Things have not been going so great with Starbucks (SBUX) lately. Its shares are currently trading at a yearly low of $50.70 on concerns over its unstable future, which were spurred by last week’s store closures and weak sales outlook. In an attempt to appease investors and customers alike, the coffee chain announced that it would launch two new limited-edition cold form tea lemonades in the US and Canada.
The tea lemonades – Summer Sunrise and Summer Sunset – will have the herbal tea flavor with tropical pineapple infusion and velvety cold foam. These two beverages add on to the Mango Dragonfruit Refreshers beverage, which was launched on Tuesday.
After a tumultuous year, Starbucks is hoping to get back to its feet with the introduction of the summer special beverages. Only a week ago, the coffee chain had announced its decision to shutter 150 out of its 8,000 stores in the next financial year. This is a three-fold increase in store closures, as it generally shuts only around 50 stores annually.
Also, the company provided a weaker-than-expected sales guidance, whereby Starbucks predicts a 1% rise in same-store sales. In contrast, the company is taking a hole in its own pocket by announcing a 20% dividend hike and its intention to return about $25 billion in the capital.
Starbucks’ shares have been trading between $50.70 and $61.94 for the past 52 weeks.