There may not be a Starbucks on every corner any more, but Americans are finding their way back into the upscale coffee retailer’s stores.

Starbucks’ profit surged in the quarter ended March 28, topping Wall Street forecasts and prompting the coffee retailer to boost its forecast for 2010.

The world’s largest coffee chain reported earnings of $217.3 million, or 28 cents per share. Stripping out restructuring charges, Starbucks posted an adjusted profit of 29 cents per share. Analysts polled by Thomson Reuters, who typically exclude one-time items from their forecast, were looking for earnings of 25 cents per share.

Sales jumped 9% to $2.5 billion, beating analysts’ expectations of $2.4 billion.

Over the past two years, Starbucks cut costs by closing hundreds of stores, trimming its workforce, overhauling its food menu and adjusting drink prices. The changes finally took hold last quarter, when the company reported a profit that quadrupled its earnings from a year earlier.

(Source: CNN Money)