Plus, with 16,000 U.S. locations, there's a Starbucks on just about every corner. There's a reason you pass so many Starbucks on your daily commute. Starbucks deliberately cluster

Shares of coffee giant Starbucks ( SBUX 7.37%) popped on Wednesday after the company reported financial results for its fiscal first quarter of 2025 -- the first quarter of its hopeful turnaround. Global transactions fell 6% but Starbucks stock was counterintuitively up 7% as of 12:30 p.m. ET. Here's why.

Starbucks CEO Brian Niccol is promising more caffeinated growth but isn't yet ready to put hard projections around when. And for now, that continues to be enough for Wall Street. Shares of the coffee giant advanced 5% on Wednesday following better-than-expected earnings late Tuesday.

Starbucks is cutting nearly a third of its menu. During the coffee chain’s earnings call on Tuesday, Jan. 28, CEO Brian Niccol announced a “roughly 30% reduction in both beverages and food." However, the chain has yet to announce which items are getting cut.

These customers will be able to enjoy free refills on hot brewed or iced coffee, or hot or iced tea during their visit. Starbucks says folks must have their first beverage served in a ceramic mug, glass or personal cup — no disposable vessels — to receive free refills.

Starbucks CEO Brian Niccol outlined the plan on Starbucks’ earnings call this week, saying the company will make a “roughly 30% reduction” in both beverages and food. While Niccol didn’t name specific items, he has said the coffee chain’s menu has become “overly complex” resulting in long lines, reports CNN.

Starbucks has reported better-than-expected sales in its fiscal first quarter as some of its turnaround efforts start to take hold.

Starbucks fans can now get free refills for some drinks — but not all. The coffee chain is also bringing back its self-serve milk and sweeteners bar.

Starbucks CEO Brian Niccol announced plans to scale back the company's food and beverage offerings by 30% as part of a restructuring effort.

Brian Niccol, who is four months into his new role, has set forth a raft of measures to improve the coffee chain's business.

Starbucks is scheduled to report earnings after Tuesday's close. Here's a closer look at what the Street expects from SBUX.