(CBS) -- After Howard Schultz purchased Starbucks in 1987, he wowed coffee fans with his concept for hand-crafted lattes and impressed investors with the chain's fast growth. But the novelty of the Seattle-based company appears to have worn off.
Same-store sales, a key retail metric measuring the performance locations opened at least a year, rose 2 percent in the most recent quarter, a far cry from the 7 percent growth recorded as recently as 2015. Competition from rivals such as Dunkin' Donuts and McDonald's McCafe is siphoning off business from the chain.
Given its slowing growth, it may be no surprise that Starbucks has also lost its luster on Wall Street. Shares of the coffee chain have barely budged this year. As a result, some who closely follow Starbucks argue it might make a tempting target for an activist investor.
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