Consumers walk in front of a Starbucks coffee shop in Galeria Krakowska shopping mall in central Krakow, Poland, on July 11, 2025.<\/p>\n
Dominika Zarzycka | Nurphoto | Getty Images<\/p>\n
Starbucks<\/a> on Tuesday reported its sixth straight quarter of same-store sales declines as the company implements a turnaround strategy.<\/p>\n CEO Brian Niccol said in a statement that the company’s comeback is ahead of schedule, based on his past experience, which includes turning around Chipotle Mexican Grill<\/a> after a series of food-safety scandals.<\/p>\n “While our financial results don’t yet reflect all the progress we’ve made, the signs are clear \u2014 we’re gaining momentum,” Niccol said in a pre-recorded video published with the earnings report.\u00a0<\/p>\n Shares of the company rose 4% in extended trading.<\/p>\n Here’s what the company reported for the quarter ended June 29 compared with what Wall Street was expecting, based on a survey of analysts by LSEG:<\/p>\n Starbucks reported fiscal third-quarter net income attributable to the company of $558.3 million, or 49 cents per share, down from $1.05 billion, or 93 cents per share, a year earlier.<\/p>\n Excluding restructuring costs and other items, the company earned 50 cents per share. A discrete tax item and a one-time investment hosting the company’s three-day event for U.S. store managers weighed on the company’s earnings per share by 11 cents.<\/p>\n Net sales <\/strong>rose 4% to $9.5 billion.\u00a0<\/p>\n But global same-store sales declined 2%, a steeper drop than estimates of a 1.3% decrease, according to StreetAccount estimates.<\/p>\n However, Starbucks’ North American cafes performed better than expected. The chain’s North American same-store sales fell 2%, a smaller decline than the 2.5% projected Wall Street, according to StreetAccount. Transactions fell 3%, but average ticket rose 1% in the quarter.<\/p>\n “In the U.S., partner engagement is rising, customer connection scores are up, shift completion is at a record high, non-Starbucks Reward customer transactions returned to growth, and more coffeehouses are delivering positive transaction comps,” Niccol said in the video.<\/p>\n And in China, the company’s second-largest market, Starbucks reported same-store sales growth of 2% for the quarter. Transactions climbed 6%, but average ticket fell. Starbucks has cut prices for its drinks in China to compete better with lower-priced rivals, like Luckin Coffee.<\/p>\n This quarter marked the first time in a year and a half that the company’s China business saw its same-store sales increase. Under pressure from increased competition, a weaker economy and the distraction of the struggling U.S. business, Starbucks has been weighing selling a stake in its China business, which overall could be valued at up to $10 billion, CNBC has previously reported<\/a>.<\/p>\n Looking ahead to fiscal 2026, Starbucks has big plans. Niccol said that the chain will launch protein cold foam, improved artisanal food options, coconut-water based drinks, a new Starbucks app and a “refreshed” Rewards program.<\/p>\n Don\u2019t miss these insights from CNBC PRO<\/p>\n","protected":false},"excerpt":{"rendered":"Consumers walk in front of a Starbucks coffee shop in Galeria Krakowska shopping mall in central Krakow, Poland,…\n","protected":false},"author":3,"featured_media":103026,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[9167,47299,133,64,81,74,51323,6795,13656,135,988,11731,41848,67,132,68],"class_list":{"0":"post-103025","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-breaking-news-business","9":"tag-breaking-news-earnings","10":"tag-breaking-news-markets","11":"tag-business","12":"tag-business-news","13":"tag-china","14":"tag-chipotle-mexican-grill-inc","15":"tag-dividends","16":"tag-earnings","17":"tag-markets","18":"tag-restaurants","19":"tag-retail-industry","20":"tag-starbucks-corp","21":"tag-united-states","22":"tag-unitedstates","23":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114938535139675908","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/103025","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=103025"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/103025\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/103026"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=103025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=103025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=103025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n