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Fortune

Phil Wahba

Brian Niccol’s nascent Starbucks turnaround starts with treating workers better

Brian Niccol Starbucks Mike Grams Fortune United States

(Credit: Michael Nagle/Bloomberg via Getty Images)

In today’s CEO Daily: Fortune‘s Phil Wahba reports on the factors behind Starbucks’ budding revival.
The big leadership story: Mohamed El-Erian raises recession worries.
The markets: U.S. future are up after the S&P 500 hit another record high.
Plus: All the news and watercooler chat from Fortune.

Good morning. This week brought convincing proof that Starbucks’ comeback under CEO Brian Niccol is for real. The coffee chain on Wednesday reported that quarterly U.S. comparable sales rose 7.1%, their second straight gain. What’s more, for the first time in two years, profit and sales both rose, and customer visits increased, showing the investments Niccol has made in more staffing, higher wages, and store glow-ups are starting to pay for themselves.

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