NEW YORK (AP) – Starbucks expressed confidence that an overhaul of its rewards program will drive up sales over the long term, but warned the transition could be bumpy.
The company reported disappointing sales growth Thursday for the first three months of the year. Global comparable sales rose 6 percent, including a 7 percent increase in its flagship U.S. market.
While the new loyalty program went into effect just last week, Starbucks said early signs are encouraging and that customer spending is up – including those customers who stood to lose out from the change.