Starbucks posts bigger-than-expected drop in global sales on weak U.S. demand

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Starbucks SBUX-Q posted a bigger-than-expected drop in quarterly global comparable sales on Tuesday, as demand remained sluggish for its pricey coffees in the United States amid rising macroeconomic uncertainty. Total same-store sales declined 1% in the second quarter, compared with analysts' average estimate of a 0.26% fall, according to data compiled by LSEG. "Our financial results don't yet reflect our progress, but we have real momentum with our "Back to Starbucks" plan. We're testing and learning at speed and we're seeing changes in our coffeehouses," CEO Brian Niccol said in a statement. Niccol has sought to revive sales by steering…

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