Starbucks said its fall product launch, which included the return of the seasonal pumpkin spice latte, drove a surge in sales.
The product lineup helped “deliver a record-breaking sales week across our U.S. company-operated stores as well as strong sales in Canada, Chief Executive Officer Brian Niccol said in an internal message to workers seen by Bloomberg News.
It’s welcome news for Starbucks, which is working to reverse a string of sales declines. Niccol is leading a turnaround focused on improving customer service, revamping the menu and making stores more welcoming with steps like adding more seating. The chain has also added “significantly more” staffing to stores, Niccol said in the message. Starbucks recently allowed workers to pick up shifts at more stores, which ensures fewer slots go unfilled.
In addition to the pumpkin spice latte, this year’s fall menu includes a pumpkin cream cold brew, iced pumpkin cream chai and a pecan crunch oatmilk latte. It’s usually a busy period for Starbucks, which is credited with starting the pumpkin craze more than 20 years ago.
Starbucks shares fell about 3.4% this year through Friday’s close, while the S&P 500 Index rose about 9.8%.