Starbucks Earnings Top Expectations as New CEO's 'Back to Starbucks' Plan Unfolds

Starbucks (SBUX) reported fiscal first-quarter results that topped analysts’ expectations, sending shares higher in extended trading Tuesday. The coffee giant saw net sales fall 0.3% year-over-year to $9.4 billion, above the analyst consensus compiled by Visible Alpha. Earnings of$780.8 million, or 69 cents per share, declined from $1.02 billion, or 90 cents per share, a year earlier but topped Wall Street projections. Global same-store sales fell 4%, a narrower decline than the 5% drop expected by analys ...