Starbucks returns to sales growth in its fiscal Q2

After four straight quarters of sales declines, Starbucks returned to growth in the January-March period

After four straight quarters of sales declines, Starbucks returned to growth in the January-March period. The Seattle-based coffee giant said Tuesday its sales rose 11% to $6.7 billion in the quarter. That was just shy of Wall Street’s forecast revenue of $6.78 billion, according to analysts polled by FactSet. “Our second quarter results demonstrated impressive momentum in the business with full sales recovery in the U.S.,” Starbucks President and CEO Kevin Johnson said. Starbucks said its global same-store sales — or sales at stores open at least a year — jumped 15%, their first increase in a year. In China, same-store sales rocketed up 91% in the quarter, reflecting a recovery from last year's store closures. U.S. same-store sales rose 9%, compared to a 3% decline in the same period last year.