Core Insights - Starbucks has ended a prolonged sales decline, reporting a 1% increase in global same-store sales for the fiscal fourth quarter, marking the first rise in nearly two years [1][2] Sales Performance - The increase in same-store sales was primarily driven by international markets, which saw a 3% rise, while U.S. same-store sales remained flat with a 1% increase in spending per transaction but a 1% decrease in transactions [2] - In the previous quarter, U.S. same-store sales had fallen by 2%, indicating a recovery trend [2] Management and Strategy - CEO Brian Niccol highlighted that the results reflect the effectiveness of the turnaround strategy implemented after his arrival over a year ago, which includes new hospitality standards and store redesigns [3] - The company has also improved staffing levels to better manage peak hours, contributing to enhanced customer experience [3] Operational Improvements - New software has been introduced to optimize order sequencing for drive-thru, in-store, and mobile orders, significantly reducing wait times [4] - Currently, 80% of company-operated U.S. stores have in-store wait times averaging four minutes or less, even during high-volume periods [4] Financial Impact - Starbucks incurred $755 million in restructuring charges during the fourth quarter, which included layoffs of 900 non-retail employees and the closure of 627 stores, primarily in North America [5] - The company's profit fell 85% to $0.12 per share, with adjusted earnings of $0.52 per share, which was below the expected $0.56 [6] Revenue Growth - Net revenue for the July-September period rose by 5% to $9.6 billion, surpassing Wall Street's expectation of $9.3 billion [7] - The company anticipates that improvements in service and product innovations will lead to stronger sales in the future [7]