Abhoy Sarkar's Avatar
published in Blogs
Nov 01, 2020

Starbucks (SBUX,$86.96) tops earnings expectations

Starbucks reported its fiscal fourth quarter earnings that topped analysts’ expectations.

The coffee chain’s adjusted earnings for the quarter came in at 51 cents a share, well above the  31 cents expected by analysts polled by Refinitiv.

Revenue fell -8% year-over-year to $6.2 billion, surpassing analysts’ forecast of $6.06 billion.

Global same-store sales fell -9%.

 The company also indicated that while the number of transactions has reduced due to the pandemic, customers are spending on pricier items like cold beverages and plant-based options.

According to Starbucks, sales in the U.S. and China are recouping from the COVID-19 pandemic impact more quickly than expected.  

In the US, same-store sales fell -9%. Active membership in Starbucks’ U.S. loyalty program climbed +10% to 19.3 million people and accounted for 47% of transactions.

China same-store sales dropped by just -3%.

During the quarter, Starbucks opened 480 new cafes on net. It expects to open 1,100 net new stores and $1.9 billion in capital expenditures in the next fiscal year.

Looking ahead, the company forecasts  adjusted earnings of 50 cents to 55 cents per share for the fiscal first quarter.

 

Related Tickers: SBUX
John Jacques's Avatar
published in Blogs
May 16, 2022
A.I. Stock Market Predictions: Head & Shoulders

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Edward Flores's Avatar
published in Blogs
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How to Become the Millionaire Next Door

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Sergey Savastiouk's Avatar
published in Blogs
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When Is the Next Recession Coming?

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published in Blogs
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published in Blogs
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Allana's Avatar
published in Blogs
Mar 23, 2023
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published in Blogs
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4 Tips for Fast, Effective Stock Analysis

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Sergey Savastiouk's Avatar
published in Blogs
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published in Blogs
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published in Blogs
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