Starbucks unveils long-term outlook at investor day as Niccol says turnaround is beginning

Same-store sales rose 4% as Starbucks projects fiscal 2026 adjusted EPS of $2.15 to $2.40.

Starbucks is set to present a long-term outlook at an investor day as CEO Brian Niccol says the company's turnaround is just beginning. Traffic at U.S. stores rose for the first time in two years, helping same-store sales grow 4%. Niccol highlighted progress on service goals such as making every drink in under four minutes and pointed to menu changes and digital improvements. At the same time, investments in stores and staffing weighed on profits in the recent quarter. Key facts: - U.S. store traffic rose for the first time in two years, and same-store sales increased 4%. - Niccol described the turnaround as "just the beginning" and cited service improvements including sub-four-minute drink times. - The company is pursuing menu innovations, changes to its rewards program, and upgrades to its digital experience. - Investments in restaurants and labor reduced profit in the fiscal first quarter, and quarterly EPS missed analysts' estimates. - For fiscal 2026, Starbucks projected adjusted EPS of $2.15 to $2.40 and global and U.S. same-store sales growth of at least 3%. Summary: The company is balancing customer-focused changes and menu innovation with short-term profit pressure. Executives presented their first annual forecast since the outlook was suspended under Niccol, and they said margins should recover over time. Investor day will outline the longer-term plan and projections.