Starbucks Earnings Top Expectations as New CEO's 'Back to Starbucks' Plan Unfolds
1. Starbucks reported fiscal Q1 earnings exceeding analyst expectations. 2. Net sales fell 0.3% year-over-year to $9.4 billion. 3. Earnings of $780.8 million surpassed forecasts despite a year-over-year decline. 4. CEO Brian Niccol emphasizes a turnaround strategy called 'Back to Starbucks'. 5. Starbucks shares rose nearly 4% in extended trading after the report.