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Starbucks on Tuesday reported better-than-expected sales in its fiscal first quarter as some of its turnaround efforts start to deliver results.
The Seattle coffee giant said its revenue was flat at $9.4 billion for the 13-week period ending Dec. 29. That beat Wall Street's forecast of $9.3 billion, according to analysts polled by FactSet.
Chairman and CEO Brian Niccol, who joined the company in September, said customer-focused changes — such as a decision to stop charging extra for non-dairy milk and a streamlining of the menu — were helping to improve service and drive store traffic.
In a conference call with investors Tuesday, Niccol said Starbucks is planning to cut its food and beverage offerings by 30% over the course of this year to simplify operations and speed service. Starbucks will also add digital menus to all of its company-owned U.S. stores over the next 18 months to make ordering options clearer and make it easier to shift its offerings depending on the time of day.
MORE: https://www.wthr.com/article/news/nation-world/starbucks-menu-changes-downsizing/507-9be409bf-a409-4d6e-8a38-82a933981340
