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28 January
Starbucks’ quarterly sales fall — but not as much as expected

Earnings Results

Under new CEO, Starbucks is looking to revamp its operations to win back customers — but analysts are worried about costs

Starbucks said Tuesday that same-store sales fell 4% year over year in its fiscal first quarter. Photo: AFP/Getty Image

Shares of Starbucks Corp. rallied after hours Tuesday after the coffee chain reported quarterly results that beat expectations, as it tries to revive sales following a year marked by cautious consumers.

The company reported fiscal first-quarter revenue of $9.39 billion, compared with $9.43 billion in the same quarter a year prior. Same-store sales fell 4% year over year. Starbucks earned 69 cents a share, down from 90 cents a year ago.

About the Author

Bill Peters is a Los Angeles-based MarketWatch reporter who covers earnings.

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