It’s been a disappointing start to Pumpkin Spice Latte season for Starbucks.

Starbucks’ new chairman and CEO says he plans to focus on improving service and reestablishing the struggling coffee giant's stores as gathering places.

Fifty-three years after its founding, Starbucks is unhappy with what it’s become – and trying to figure out how to meet customers’ changing needs without losing its coffeehouse roots.

Starbucks' incoming CEO could make well in excess of $100 million in his first year with the company under an incentive-laden contract, and he will not be required to relocate from his home in California to Seattle, the home of the global coffee giant.

Starbucks named Chipotle's Brian Niccol to be its new chairman and CEO on Tuesday.

U.S. stocks rose to one of their best days of the year as Wall Street relaxed after the first of several highly anticipated reports on the economy this week came in better than expected.

The pandemic crushed the economy, but it was no match for CEO pay, which rose again last year.

The burger chain is bringing back its popular Donut Sticks and introducing a cinnamon cookie latte, its first seasonal drink in five years. Donut Sticks, fried dough rods that McDonald's added to its menu earlier this year, are returning Nov. 6 and will be available for a limited time throughout the holiday season. The Donut Sticks come six or a dozen in a pack, and they will be served warm with cinnamon and sugar. The Donut Sticks were a hit for McDonald's when they sold them earlier this year, and the company reported strong first-quarter earnings partly because of the new and limited time item. It is McDonald's first seasonal drink since 2014, when it started selling the white chocolate mocha latte.

"We're not going to be doing breakfast anytime soon," CEO Brian Niccol told CNN's Chief Business Correspondent Christine Romans at a private event in Los Angeles. "In order for us to continue to run Chipotle there, part of the deal is we have to serve breakfast," Niccol said. Instead of branching out into breakfast, Chipotle is leaning into what it knows its customers are after: meat burritos for lunch and, increasingly, dinner. Together, the changes have made it easier for groups to order, Niccol explained, which means more dinner orders. By focusing on lunch and dinner, Chipotle avoids the costs associated with breaking into breakfast.

The company said that sales at stores open at least 13 months grew 10% in the second quarter. The second quarter, which ended on June 30, marks the sixth-straight quarter of comparable store growth, the metric used for stores open for at least 13 months. It has also expanded its rewards program nationwide, and sales through digital channels have soared. During the second quarter, digital sales grew 99.1% and made up 18.2% of all purchases. During the quarter, Chipotle also added 19 net new stores.