Autumn has arrived at Starbucks with the return of the Pumpkin Spice Latte

Starbucks, the world-renowned coffee chain, is gearing up for the autumn season with the return of its iconic Pumpkin Spice Latte (PSL). The beverage, a fall staple at Starbucks, is expected to cause a spike in sales as it returns to stores on Tuesday.

This year, the PSL arrives earlier than ever, starting its season on August 29, nearly a month before the official start of fall. The early arrival is part of a strategic move by Starbucks' new CEO, Brian Niccol, who took the helm last September.

The PSL holds significant cultural significance, being both beloved and mocked. Since its launch in 2003, it has ushered in an era of pumpkin spice products, including trash bags, yogurt, whiskey, and more. In fact, Starbucks disclosed that roughly 10% of its overall sales come from seasonal staples like the PSL.

However, Starbucks could use a sales boost. The chain has been struggling financially, with year-to-date profits down about 40% and net income plunging nearly 50% in the most recent quarter. The number of transactions at Starbucks stores open at least a year has declined in every quarter, and revenue in these stores has also taken a hit.

To revive the Starbucks brand, Niccol has instituted several changes. The menu has been overhauled, with 30% of its offerings being cut. Employee uniforms have been tweaked, and a new cafe design is being tested that encourages paying customers to linger.

The price of the PSL remains unchanged from last year, with a grande Pumpkin Spice Latte ranging in price from $5.75 to $7.25 in company-operated stores. The return of the PSL last year on August 22 caused a 24.1% surge in sales above the normal Thursday average.

As the PSL makes its comeback, Starbucks customers can look forward to enjoying their favourite autumn drink while the company works to revitalise its sales and brand image.