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Starbucks saw global sales rise 1% amid store closures and profit plunge due to restructuring.
Starbucks reported its first global same-store sales increase in nearly two years, with a 1% rise driven by international growth and improved in-store service, though U.S. sales were flat.
The company attributed gains to operational changes like store redesigns, optimized staffing, and new software reducing wait times.
Despite a 5% revenue increase to $9.6 billion, profit plummeted 85% to 12 cents per share due to $755 million in restructuring charges from closing 627 stores and cutting 900 non-retail jobs.
Adjusted earnings of 52 cents fell short of estimates.
The company faces ongoing challenges from rising costs, union tensions, and declining market share in China, while investing in customer experience and limiting price hikes.
Starbucks vio aumentar las ventas globales un 1% en medio del cierre de tiendas y la caída de las ganancias debido a la reestructuración.