Redburn Atlantic’s Edward Lewis downgrades coffee-shop giant after new Chief Executive Brian Niccol unveils his “Back to Starbucks” plan.

Shares of Starbucks Corp. ($SBUX) slipped nearly 1% on Wednesday morning after a bearish note from Redburn Atlantic appeared to have rattled some investors. The downgrade to ‘Sell’ from ‘Neutral’ came from analyst Edward Lewis,

Investing.com - Analysts at Redburn Atlantic have lowered their rating of Starbucks (NASDAQ:SBUX) to "Sell," arguing that the consensus outlook for the coffee chain does not "adequately reflect" the costs associated with the company's

Starbucks CEO Brian Niccol shared more details about the company’s turnaround strategy during the company’s quarterly conference call on Wednesday.For three straight quarters, Starbucks has reported declining sales.

Chipotle’s new chief executive is Scott Boatwright, a familiar face and name, given that he’s served as the interim CEO since August following former CEO Brian Niccol’s surprise decision to lead a turnaround at Starbucks.