Consumer
Starbucks’ Sales Keep Falling, Amping Up Turnaround Stakes
This article is for subscribers only.
Starbucks Corp.’s chief executive officer said the coffee chain is making progress in reviving growth, but flagging sales in the latest quarter and a sputtering economy amped up pressure on the company’s new management to deliver.
Same-store sales declined 1% in the quarter ended March 30, falling short of Wall Street estimates. Earnings per share also missed expectations.