Consumer
Starbucks Turnaround Bid Shows Progress as Sales Slump Eases
- Same-store sales declined less than expected in latest quarter
- CEO said that new ads are succeeding in bringing in customers
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Starbucks Corp. reported better-than-expected quarterly results, luring back lapsed customers with coffee-focused ads and by removing extra charges for nondairy milk.
Same-store sales fell 4% in the three months ended Dec. 29, the company said Tuesday, an improvement from the 7% slump Starbucks reported in the prior quarter. Chief Executive Officer Brian Niccol, who joined in September, is working to stem a customer exodus sparked by boycotts, price increases and slow service.