Starbucks Rebound? Q4 Sales Jump for First Time in 2 Years, Sending Stock Soaring
Starbucks reported a 1% rise in global same-store sales for Q4, its first increase in seven quarters, driven by international growth. Net revenue reached $9.6 billion, beating expectations, but profits fell sharply after a $1 billion restructuring charge and 627 store closures. Adjusted EPS came in at $0.52, missing forecasts. Shares rose about 2% after hours; the company suspended guidance pending a January update.