Starbucks raises forecasts after strong quarter as CEO’s turnaround gains momentum; shares jump
Starbucks reported stronger-than-expected quarterly results, raising its annual profit and sales forecasts as CEO Brian Niccol's turnaround strategy gains traction. The company cited improved in-store execution, a simplified menu, and better staffing as key drivers. Global same-store sales rose 6.2%, exceeding analyst expectations, while adjusted earnings per share beat forecasts at 50 cents. Shares jumped nearly 6% in after-hours trading.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountStarbucks (SBUX-Q) beat estimates for quarterly comparable sales and raised its annual forecasts, signaling investments in faster service and improved staffing under CEO Brian Niccol’s efforts to turn around the coffee chain pulled in more customers.The company’s shares jumped nearly 6% in extended trading on Tuesday. The stock has gained about 15% this year.Niccol has refocused the coffee chain on in-store execution through measures like a simplified menu and shortened wait times and has paired that with the “Back to Starbucks” initiative, which includes improvements to worker compensation to boost employee retention and consistency on the floor.The company projected fiscal 2026 adjusted profit per…
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