Starbucks reported its sixth consecutive quarter of same-store sales declines but said its turnaround efforts are gaining traction.

CEO Brian Niccol, known for reviving Chipotle, emphasized growing momentum despite weak financial results.

In Q3, net income dropped to $558 million from $1.05 billion a year ago, while global same-store sales fell 2%.

However, U.S. performance beat expectations, with smaller sales declines and rising customer engagement. In China, same-store sales rose 2% for the first time in 18 months.

Starbucks is focusing on improving existing cafes, enhancing customer service through its new “Green Apron Service,” and slowing U.S. expansion.

It may sell a stake in its China business, valued up to $10 billion, CNBC has reported.

Looking ahead, the company plans $500 million in labor investment and product innovations through 2026.

Written by B.C. Begley