Starbucks Falls Amid Sales Slump and Brewer’s Departure

Global same-store sales dropped 5% in the fiscal first quarter
Operating Chief Brewer leaving to become Walgreens CEO

Watch: Starbucks is in the spotlight after posting after-hours earnings that show the rebound in China sales continues to gain traction. (Source: Bloomberg)

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By Edward Ludlow

January 26, 2021 at 9:05 PM UTC

Updated on

January 27, 2021 at 12:11 AM UTC

This article is for subscribers only.

Starbucks Corp. slumped in late trading on Tuesday after reporting a sales decline that was deeper than expected and the departure of Chief Operating Officer Roz Brewer.

Global same-store sales, a key gauge of restaurant success, fell 5% in the fiscal first quarter. That’s worse than the estimated decline of 4.2% compiled by Consensus Metrix. A 5% drop in the U.S. was just ahead of estimates, while a 5% gain in China beat expectations.