Starbucks beats global comparable sales estimates

Oct 29 (Reuters News) - Starbucks SBUX.O on Wednesday posted a bigger-than-expected rise in quarterly global same-store sales, helped by a recovery in demand in international markets amid an ongoing revamp of its U.S. operations by CEO Brian Niccol.

Comparable sales rose after about a year and a half of declines, as Niccol pushed ahead with his plan to shut underperforming stores, cut operational costs and improve staffing in key locations to speed up service at its coffee shops.

In China, Starbucks' second-largest market outside of the United States, the company reported a 1% rise in comparable sales, after a return to growth in the metric last quarter.

Starbucks has lowered prices for non-coffee products in China, and has been trying to offer more customization and local flavors to boost demand as it contends with stiff competition from local brands such as Luckin' Coffee.

Global comparable sales rose 1%, compared with analysts' average estimate of a 0.14% rise, according to data compiled by LSEG.