Starbucks earnings top estimates, but same-store sales decline for fourth straight quarter

Starbucks earnings top estimates, but same-store sales decline for fourth straight quarter



Starbucks reported a decline in same-store sales for the fourth consecutive quarter, but still beat Wall Street’s expectations for earnings and revenue. The coffee giant has been implementing a turnaround plan to revive its U.S. business, which includes removing extra charges for nondairy milk options, focusing on coffee, and beginning a menu overhaul. Despite the decline in same-store sales, both U.S. and international locations outperformed expectations. CEO Brian Niccol expressed confidence in the progress being made and announced plans for restructuring the corporate workforce. Shares of the company rose 3% in extended trading following the earnings report.





source


Discover more from GLOBALMALAYALAM.NEWS

Subscribe to get the latest posts sent to your email.

Leave a Reply

Your email address will not be published. Required fields are marked *

Discover more from GLOBALMALAYALAM.NEWS

Subscribe now to keep reading and get access to the full archive.

Continue reading