![Starbucks profits fall but points to progress in turnaround](https://www.coinpress.news/imagesDefaultCategories/5380b413-40d2-39c5-b95c-8648a1c2bbc2.jpeg)
-
Trump threats to South Africa rattle automakers
-
Asian stocks rise, oil falls as Trump fans Ukraine peace hopes
-
Chinese authorities play cash-giving Cupid to boost marriage rates
-
Facing egg shortage, Americans bring chickens home to roost
-
China's 2024 coal projects threaten climate goals: report
-
US stocks mostly lower on inflation, euro gains on Ukraine peace hopes
-
Trump blames Biden for unexpected uptick in US inflation
-
Chevron to cut 15-20% of workforce by end of 2026: company
-
Canadian steel firms face turmoil after US 'stab in the back'
-
Unfinished deepsea observatory spots highest-energy neutrino ever
-
US trade deficits at core of Trump tariff moves
-
Hit by Trump, Canada and EU seek comfort in numbers
-
Scammers using AI to dupe the lonely looking for love
-
US consumer inflation unexpectedly up, Trump blames Biden
-
US stocks fall as inflation unexpectedly heats up
-
Bankrupt ex-Turkey operator of KFC, Pizza Hut says wages to be paid
-
Stock markets gain before US inflation data
-
'I will fight': Khelif responds to boxing organisation lawsuit
-
Two astronauts stranded on space station to touch down early
-
Heineken shares pop on bubbly beer sales
-
Flattery and pragmatism: UK plan to stay on Trump's good side
-
'What would you have us do?': the plastic credits problem
-
Asian stocks rise as Powell rate warning taken in stride
-
What are reciprocal tariffs and who might be affected?
-
Cleverbridge Appoints Markus Scheuermann as Chief Financial Officer
-
AI feud: How Musk and Altman's partnership turned toxic
-
US inflation fight to take time in 'highly uncertain' environment: Fed official
-
Ford CEO says Trump policy uncertainty creating chaos
-
Dam fine: beavers save Czech treasury $1 million
-
Altman says OpenAI 'not for sale' after Musk's $97 bn bid
-
Trump says US disaster relief agency should be 'terminated'
-
'Ridiculous and lame': South Africans mock Trump proposals
-
JD Vance puts Europe, China on notice at AI summit
-
Global stocks mixed as tariff uncertainty looms
-
BP pledges strategic 'reset' as profit tumbles
-
Gucci owner Kering's annual profit plunges
-
Trump signs orders for steel, aluminum tariffs to start March 12
-
EU leaders vow 'firm' response to US tariffs
-
New Zealand rethinks opposition to deep-sea mining
-
World leaders seek elusive AI common ground at Paris summit
-
YouTube, the online video powerhouse, turns 20
-
Playgrounds come alive again with Brazil school phone ban
-
Could a climate megaproject cloud Chile's unparalleled views of universe?
-
Trump signs executive orders on steel, aluminum tariffs
-
US judges challenge Trump cuts as legal battles mount
-
Global stock markets brush off latest Trump tariffs
-
Macron vows at summit France to 'deliver' on AI acceleration
-
Steel at heart of new Trump trade war
-
US federal workers weigh Trump buyout as court to step in
-
McDonald's profits dented by food poisoning outbreak
![Starbucks profits fall but points to progress in turnaround](https://www.coinpress.news/imagesDefaultCategories/5380b413-40d2-39c5-b95c-8648a1c2bbc2.jpeg)
Starbucks profits fall but points to progress in turnaround
Starbucks reported lower profits Tuesday in results that still topped expectations as the company's new CEO described various pilot program tests to reinvigorate the chain.
Profits came in at $780.8 million, down 23.8 percent from the year-ago level. Revenues declined 0.3 percent to $9.4 billion, as comparable store sales fell in both North America and international markets.
The chain, which has hit a rough patch of sagging sales, installed Brian Niccol as CEO last year, recruiting him from Chipotle after the short-lived tenure of Laxman Narasimhan.
Niccol has reinstated self-service condiment bars for customers in US stores and shifted policies to permit bathroom use only to patrons.
On Tuesday, prior to the earnings announcement, Starbucks announced the departure of two longtime executives, Sara Trilling and Arthur Valdez, whose roles will be reconfigured under a new operating model.
Niccol's goal is that Starbucks "gets back" to its identity as "a welcoming coffee house where people gather and where we serve the finest coffee handcrafted by our skilled baristas."
The chain is working to ensure that customers are moved through and served within four minutes with a "touch of humanity," Niccol said on a conference call with analysts.
To that end, the company has reintroduced ceramic mugs and handwritten notes to customers on coffee cups.
Starbucks is also experimenting with algorithms that can improve efficiency in the production of drinks ordered through the company's smartphone app, Niccol said.
Customers have complained of lengthy wait times for online orders where they stand near rows of prepared drinks waiting for other customers.
"Right now mobile ordering is just a first in, first out proposition and we've got to fix it," he said, adding that fixing the issue will take "the brand right back where it needs to be, which is a premium experience."
Shares rose 0.6 percent in after-hours trading.
P.Schmidt--CPN