Starbucks on Tuesday reported better sales in the first quarter of its financial year as some of its turnaround efforts began to be stopped.
The Seattle coffee giant said that its revenue was $ 9.4 billion for the 13-week period ending December 29. It defeated Wall Street’s 9.3 billion dollars forecast, according to analysts, was voted by the factset.
Chairman and CEO Brian Nicole, who joined the company in September, said that customer-centered changes-the decision to prevent additional charge for non-decree milk and a streamlined-service and drive store traffic of the menu and improve traffic traffic Was helping
Starbucks is trying to re-establish itself as a gathering place, and this week announced that it would start using ceramic mugs and offer free refills of coffee or tea to in-store customers. . The company is trying to appeal to customers with a new rule, which requires people to buy something if they want to move out or use toilet.
Sales of Starbucks’ uniform-store-or locations fell 4% compared to the same period of last year at least one year. According to the factset, the decline was lower than 5.5% analysts. This was even better than the previous quarter, when the sales of global equal-store were 7%less.
American similar-store sales also fell 4% in the first quarter. Starbucks said the transactions were 8% below, but customers spent more per trip. Starbucks also pulled back at a discount during the quarter, Nicole said.
He said in a video message, “We have taken steps to re -start business, our mission and our marketing to better align with our identity as a coffee company.”
In addition, on Tuesday, Nikkol announced the departure of two senior officials and reshuffling their job responsibilities.
Nicole said that Mike Village, who recently works as the chairman of Taco Bell, would become the Chief Store Officer of Starbucks for North America. Meredith will become CEO of Empower delivery and former Chief Development Officer in Taco Bell, Starbuck’s Chief Store Development Officer. Nikkol led Taco Bell until 2018, when he left to run chipatl.
Nikkol also announced earlier this month that Starbucks plans an unlike corporate trimmed by the beginning of March.
Starbucks shares increased by 3% in hours of trading on Tuesday.