Starbucks Corp.’s U.S. operations beat expectations in the coffee chain’s latest quarter, giving interim Chief Executive Officer Howard Schultz a welcome development even as he contends with high inflation and Chinese Covid measures that hurt performance there.
Robust demand pushed the key gauge of U.S. comparable sales to 12%, higher than analysts’ average estimates. Customer purchases rose during the quarter, which ended April 3, and the average amount per transaction also increased.
All eyes are on Schultz, who returned to the top role last month amid stubborn inflation and an expanding union push that has turned increasingly bitter. In the earnings release, Schultz said the company is “single-mindedly focused on enhancing our core U.S. business.”
