Starbucks Corporation (NASDAQ:SBUX) has spent the past two years trying to fix a business that had lost some of what made it special. Stores had become slower, employees were under pressure, the customer experience was inconsistent, and the company had become too focused on growing rather than making its existing stores better. Brian Niccol's answer has been to go back to the basics. The early results suggest that this is more than a temporary improvement in sales. Starbucks has now delivered four consecutive quarters of positive comparable-store sales, while margins have expanded for two straight quarters. But the bigger question is whether Starbucks can turn that recovery into a much more profitable business.
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