Starbucks’ Big Sales Beat Stokes Confidence in Turnaround

Starbucks Corp. Chief Executive Officer Brian Niccol delivered the best evidence yet that his turnaround plan is taking hold, with the coffee chain posting unexpectedly strong growth and a solid outlook for the rest of the year.

Global sales at established locations rose 4% in the most recent quarter, the company said in a statement. That topped even the most optimistic analyst expectations and built on positive results from the previous period after a lengthy slump.