Starbucks reports same-store sales growth for the first time in nearly two years
- On Wednesday, Starbucks is expected to report its fiscal fourth-quarter results after the bell, with Wall Street analysts surveying by LSEG projecting earnings per share of 56 cents and revenue of $9.35 billion.
- Facing tougher competition and price-sensitive consumers in the United States and China, Starbucks has struggled to bring customers back amid a $97 billion restructuring plan with store closures and layoffs.
- Wall Street projects same-store sales fell 0.3%, reflecting weaker North America demand, prompting Starbucks to cut costs and explore selling a China business stake.
- Shares of Starbucks have fallen 7% this year as investors grow impatient, reducing the market cap roughly $97 billion.
- Amid a wave of industry turnarounds, Starbucks' results will be read against peers like Wendy's as the S&P 500 has climbed 17%.
60 Articles
60 Articles
Starbucks posts first global sales growth in 18 months, high coffee prices erode profits
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Starbucks said in July that it would start offering protein cold foam on beverages.Smith Collection/Gado/Getty ImagesStarbucks says its protein offerings are aiding its turnaround effort.The coffee chain launched protein cold foam and protein lattes last month, CEO Brian Niccol said.The menu items have helped get some rewards-program customers through the door more often.Starbucks' turnaround is making progress, and protein is playing a role.The…
Starbucks posts first same-store sales growth in seven quarters
Starbucks on Wednesday posted a bigger-than-expected rise in quarterly global same-store sales, helped by a recovery in demand in international markets amid an ongoing revamp of its U.S. operations by CEO Brian Niccol.
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