Starbucks is scrapping its Oleato line of olive oil beverages as the coffee giant moves to simplify its menu. Why it matters: The Seattle-based company's sales plunged in its most recent quarter and has been struggling to reverse a decline in foot traffic.

Starbucks is ditching its olive oil-infused coffee, less than a year after it debuted to mixed reviews. The Seattle-based coffee giant confirmed Tuesday that it will remove Oleato coffee from U.S. Starbucks next month.