The Starbucks Comeback Story Is Finally More Than Just Froth

Finally, Brian Niccol’s turnaround of Starbucks is looking like more than hot froth. After spending the past 18 months announcing lackluster sales but promising investors that better times were just around the corner, the chief executive officer announced the coffee chain’s first increase in underlying US revenue for two years.

And following his kitchen-sinking of the company’s many problems in late 2024, when he scrapped its financial guidance, he reinstated targets for the rest of this fiscal year. Even with his reboot building momentum, meeting — and beating — expectations will require an extra caffeine jolt.