Reported about 20 hours ago
Starbucks reported a 3.8% increase in net revenue for the third quarter, reaching $9.46 billion, aided by improved demand in China and menu changes, despite a 2% decline in same-store sales for the sixth consecutive quarter. CEO Brian Niccol outlined a major brand reset initiative to enhance customer experience, pledging to upgrade over 1,000 stores and increase staffing investments by more than $500 million in the coming year, while facing intense competition and price cuts in China.
Source: YAHOO