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Starbucks Shares Rise as Turnaround Plan Exceeds Expectations
Starbucks Shares Rise as Turnaround Plan Exceeds Expectations
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BTCCSquare news:
Starbucks Corp. shares gained in extended trading after CEO Brian Niccol announced the company's 'Back to Starbucks' revitalization plan is progressing faster than anticipated. The coffee chain posted $9.46 billion in revenue, a 4% year-over-year increase that surpassed analyst projections, though earnings declined sharply amid falling same-store sales globally.
Niccol emphasized operational improvements including order sequencing algorithms, expanded free refills, and the return of handwritten customer names on cups—tactics designed to enhance customer experience and dwell time. 'We've fixed a lot and done the hard work on the hard things,' Niccol stated, framing the 4% after-hours stock bump as validation of the accelerated turnaround.
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