Starbucks reports strong quarterly sales and raises annual outlook

Starbucks reported stronger-than-expected quarterly sales growth of 7.9% globally and 7.9% in the U.S., raising its full-year sales growth forecast from 5% to 6% and increasing its earnings per share projection. Revenue declined 1% to $9.3 billion due to the sale of a stake in its China business, but net income surged 87% to $1 billion. CEO Brian Niccol credited the results to operational improvements like staff additions, technology enhancements, and store redesigns.