Starbucks Reports Solid Earnings Beat, Shares Spike 6% After-Hours

Starbucks Spikes 6% After-Hours As Earnings Top Estimates

Starbucks reported a solid earnings beat, with Non-GAAP EPS of -$0.46 exceeding estimates by $0.15 and GAAP EPS surpassing expectations by $0.05. Revenue of $4.22B was above analyst forecasts by $80M despite a 38% year-over-year decrease. The company opened 130 net new stores in Q3, maintaining a 5% year-over-year unit growth, ending with 32,180 stores globally.

Starbucks Corporation

Starbucks' Stock Declines by 21% in the Last Year

Is It Time to Sell Starbucks Stock?

Starbucks' stock has declined by approximately 21% in the last year, reaching its lowest point since last May. The company's Q2 financial release indicated a decrease in total net revenue, a trend not observed since 2020 due to the COVID-19 pandemic.

Starbucks Stock Declines 21% Over the Past Year, Misses Q2 Performance

Starbucks' stock declined by approximately 21% over the past year. The company missed its Q2 performance, with total net revenue dropping to 1.8% year-over-year growth. Sales in China dropped by 11% despite an increase in store numbers. CEO Laxman Narasimhan emphasized Starbucks' focus on maintaining its premium brand position amidst fierce competition.

Starbucks Focuses on Premium Brand Position, Plans Product Launches and Leadership Changes

Starbucks plans to address challenges through product launches and leadership changes. CEO Laxman Narasimhan aims to improve service, app, and menu to drive business growth despite a 3% domestic sales decline. Former CEO Howard Schultz advised focusing on U.S. stores due to a 7% traffic decrease in Q2.

Starbucks Same-Store Sales Drop 10% Due to Coronavirus-Forced Closures

Starbucks same store sales drop 10% as coronavirus forced closures in US, China

Starbucks reported global same-store sales of -10% year over year, falling short of expectations. The company opened 255 net new stores in the quarter, showcasing expansion despite the pandemic. Starbucks expects a substantial recovery in China, where 98% of stores are open with modified operations.

Starbucks Japan Launches Art-Covered Drinkware Collection

Artist-Designed Cafe Products

Starbucks Japan launched a drinkware collection featuring artwork by Tokyo-based illustrator Shogo Sekine. The collection includes stainless steel drink bottles, stainless steel tumblers, a glass tumbler, ceramic mug, bio-based polypropylene bottle, and a recycled polypropylene bottle.

Starbucks Expands Presence in St. Louis Area

Starbucks coming to two St. Louis-area Schnucks stores

Starbucks will open two new stores inside Schnucks grocery stores in the St. Louis area, featuring the 'Next Generation' store design and offering a variety of products. Schnucks will manage the day-to-day operations of the new Starbucks stores, creating approximately 50 new jobs.

Starbucks and Workers United Reach Tentative Agreements on Collective Bargaining

Starbucks, Workers United Secure Tentative Accords In Talks

Starbucks and Workers United have reached tentative agreements on collective bargaining talks concerning just cause, union representation, and transparency. The agreements aim to establish a first union contract between Starbucks and Workers United.

Orlando Area's First Drive-Thru-Only Starbucks Opens in Sanford

Orlando area's first drive-thru-only Starbucks is now open in Sanford

Starbucks Corporation opened a drive-thru-only location in Sanford, Florida, on May 18, 2024, at 3764 S. Orlando Drive. The new location features a larger drive-thru section and is part of the company's expansion plans in the Orlando area.

Starbucks Announces New Diversity Targets, Links Executive Compensation to Hitting Goals

Starbucks announces new diversity targets, links executive compensation to hitting goals

Starbucks announced a mentorship program for BIPOC employees, aiming to connect them with senior leaders within the company. The company set a target of achieving BIPOC representation of at least 30% at all corporate levels and at least 40% across its retail and manufacturing jobs by 2025.

Starbucks Corporation is an American multinational chain of coffeehouses and roastery reserves headquartered in Seattle, Washington. It is the world's largest coffeehouse chain, offering a wide variety of coffee experiences, hot and cold drinks, whole-bean coffee, micro-ground instant coffee, espresso, teas, juices, pastries, and snacks.

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items. The company also licenses its trademarks through licensed stores, and grocery and foodservice accounts. The company offers its products under the Starbucks, Teavana, Seattle's Best Coffee, Evolution Fresh, Ethos, Starbucks Reserve, and Princi brands. As of October 3, 2021, it operated 16,826 company-operated and licensed stores in North America; and 17,007 company-operated and licensed stores internationally. The company was founded in 1971 and is based in Seattle, Washington.

COM:STARBUCKS

Starbucks Corporation

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21/11 14:49

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