New Delhi, July 30 -- Starbucks said Tuesday it's confident that improved store operations and new products - including a cold foam protein drink - will soon help turn around the company's lagging U.S. sales.
In the meantime, slow U.S. demand continues to be a drag on the company's results.
Starbucks reported that its revenue rose 4% to $9.5 billion in its fiscal third quarter. That was better than the $9.3 billion Wall Street expected, according to analysts polled by FactSet.
But same-store sales, or sales at locations open at least a year, fell 2% in the April-June period. That was a bigger decline than Wall Street expected, and it was the sixth straight quarter that the Seattle-based company reported lower same-store sales.
Same-st...
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