Starbucks needs pumpkin spice fans to show up now more than ever

Starbucks Corp. is deploying one of the most potent weapons in its arsenal to bring customers back into stores: the pumpkin spice latte.

The fall product lineup is taking on extra weight this year after the coffee chain ousted its chief executive officer in a surprise move last week. Fan-favorite autumn beverages are key to the company’s plan to reverse two quarters of same-store sales declines.

The pumpkin spice latte returns Aug. 22 for the 21st straight year. Starbucks is also introducing a new iced apple nondairy cream chai, plus two other apple beverages that will only be available on its app. Returning offerings include a pumpkin cream cold brew.

Starbucks is bringing in a restaurant industry heavyweight to take over as CEO next month. Brian Niccol, who most recently led a turnaround at Chipotle Mexican Grill Inc., is on track to become one of the highest paid CEOs in the US. Starbucks investors applauded the choice, sending the shares up 25% on the day of the announcement.

Niccol will have to contend with inflation-weary consumers forgoing $6 iced lattes, escalating wait times and staffing changes that have angered once-loyal customers.

The autumn drinks aim to meet demand for seasonal beverages while also catering to Gen Z and millennials’ preference for tea-based, cold and nondairy beverages, according to Starbucks. The company added that drink customization in the latest quarter was up 28% from a year ago.