Starbucks earnings disappoint as CEO Niccol's strategy faces US hurdles
(Reuters) -Starbucks faces challenges in reviving its business, CEO Brian Niccol said on Tuesday, after the coffee giant posted disappointing global comparable sales and profit with inflation and economic uncertainty driving up costs and dampening U.S. demand. Investors have placed their bets on Niccol's turnaround strategy for the brand, whose sales have fallen for four straight quarters, by reducing production and service times and investing in stores to improve customer experience. "Our financial results don't yet reflect our progress, but we have real momentum with our 'Back to Starbucks' plan," Niccol said in a statement.