US EditionStarbucks beats first-quarter global comparable sales estimate as demand rebounds
Starbucks’ global same-store sales rose 4%, surpassing estimates due to holiday drinks, viral merchandise, and a 3% increase in customer transactions, CEO Brian Niccol said.
- On Wednesday, Starbucks Corporation reported global same-store sales rose 4% and net sales increased 6% to $9.92 billion for the quarter ended Dec. 28.
- Brian Niccol has emphasized reviving the coffeehouse experience, and Starbucks trimmed nearly 30% of U.S. menu offerings last year to focus on key lattes.
- In a statement, CEO Brian Niccol said 'Our Q1 results demonstrate our 'Back to Starbucks' strategy is working and we believe we're ahead of schedule', supported by a 3% rise in transactions and a 1% increase in spending per visit from holiday promotions like the Bearista cup and Red Cup day.
- Shares rose 5% in premarket trading after management reinstated full-year targets, and investors expect more details at an investor day in New York City on Thursday.
- Internationally, same-store sales rose 5% with China up 7%, Starbucks opened 128 net new locations and expects fiscal 2026 same-store sales growth of 3% or higher with profit guidance of $2.15 to $2.40 per share.
49 Articles
49 Articles
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Demand is rebounding at Starbucks, signaling that CEO Brian Niccol's turnaround efforts are working. The company said on Wednesday that sales at North American stores open for at least a year rose by 4%. This growth was mainly due to a 3% increase in purchases from existing customers and a 1% increase in the average amount spent per transaction. That's the first uptick in store sales in eight quarters. Globally, sales at stores also rose 4% as …
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