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Starbucks marks milestone in turnaround plan
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Starbucks marks milestone in turnaround plan

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A year and a half into a promised turnaround, Starbucks CEO Brian Niccol had some good news for investors on Tuesday. The Seattle-based coffee giant’s quarterly results beat estimates for profits and revenues.  In its second quarter, Starbucks posted sales of $9.5 billion, up nearly 9% from a year ago, while profits, which lagged recently, hit $511 million, a 33% increase from the same quarter a year ago.  Shares jumped 7%, to $104.54, in after-hours trading before settling slightly as investors poured over a better-than-expected quarter and signs that Niccol’s ambitious strategy to restore Starbucks’ former profitability is taking hold.   Starbucks clinches revenue, earnings wins The coffee company saw an 8.8% jump in quarterly revenue year over year. Its profit soared 33%. “Q2 marked a milestone for the business.…

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