Starbucks reported better-than-expected revenue in its fiscal fourth quarter as its U.S. sales improved. The Seattle-based company said its net revenue rose 5% to $9.6 billion in the July-September period. That was better than Wall Street was expecting, according to analysts polled by FactSet. Starbucks’ global same-store sales rose 1% compared to the same period a year ago. It was the first time in seven quarters that the company posted an increase in same-store sales. But the improvement same at a cost. Starbucks said its profit fell 85% in the quarter as it carried out a $1 billion restructuring aimed at underperforming stores.
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