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.

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

Chairman and CEO Brian Niccol, who joined the company in September, said customer-focused changes - such as a decision to stop charging extra for non-dairy milk and a streamlining of the menu - were helping to improve service and drive store traffic.

Key Takeaways Starbucks reported fiscal first-quarter results that topped analysts’ expectations, despite sales and profit declines year-over-year.The better-than-expected results came as new CEO Brian Niccol said the company made progress toward its "Back to Starbucks" strategy.

Starbucks announced another stage in its leadership shake-up on Tuesday, as CEO Brian Niccol will bring in two more executives who spent time at his former employer Taco Bell while dividing key leadership roles.

Starbucks is restructuring its leadership team, bringing in two executives with Taco Bell ties under CEO Brian Niccol’s transformation plan. The company is splitting its North American president role into two positions.

The personnel moves are among the sweeping changes coming to the Seattle-based companyas Niccol, who joined Starbucks in September, carries out his plan to improve its lackluster financial performance.