Starbucks stock rises as coffee chain's traffic grows for the first time in two years

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Starbucks

on Wednesday reported mixed quarterly results as the company’s turnaround propels traffic growth for the first time in two years but weighs on its bottom line.

“Our Q1 results demonstrate our ‘Back to Starbucks’ strategy is working and we believe we’re ahead of schedule,” CEO Brian Niccol said in a statement. “It’s great to see the sales momentum driven by more customers choosing Starbucks more often, and this is just the beginning.”

The company also shared its first financial outlook since suspending its forecast in October 2024. For fiscal 2026, Starbucks is projecting adjusted earnings per share in a range of $2.15 to $2.40, on the lower end of Wall Street’s estimates of $2.35 per share, according to LSEG. The company is also projecting global and U.S. same-store sales growth of at least 3%.