Starbucks Beats Revenue Forecast in Q3, Driven by “Back to Starbucks” Strategy

Starbucks reported third-quarter revenue of $9.3 billion, surpassing analyst expectations of $9.1 billion. The quarter ended June 28. Revenue was down 1 % from the same period a year earlier, while net earnings rose to $1.05 billion, an 87 % increase year-over-year. Earnings per share climbed to 91 cents from 49 cents a year ago.

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• Global comparable-store sales grew almost 8 %.

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• The chain opened 175 net new stores, taking the worldwide total to more than 41,000, with roughly 17,000 in the United States.

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Since CEO Brian Niccol assumed leadership in September 2024, the company has pursued a “Back to Starbucks” plan aimed at reviving the traditional coffee-house experience. The plan emphasizes upgraded store designs, increased staffing, smoother operations and shorter consumer wait times. Implementation has involved layoffs and store closures, including locations in Seattle, and the establishment of a new office that will eventually host up to 2,000 employees over the next five years.

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• “We have more work to do, but we’re relentlessly focused on reclaiming the third place and becoming the world’s greatest customer service company,” — Brian Niccol, Starbucks chairman and CEO, in a statement Wednesday

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• “We are focused on what we can control amid a dynamic operating environment,” — chief financial office

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The earnings beat demonstrates that the strategic overhaul is beginning to translate into stronger top-line performance despite modest revenue contraction. Higher comparable-store sales and a surge in net earnings suggest the staffing and operational changes are resonating with customers. Continued store openings and the expansion of the new office signal confidence in long-term growth, while the emphasis on customer service aims to solidify Starbucks’ position as a leading global retailer.

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