Starbucks misses expectations as China Covid surge hurts international sales
Publishing timestamp: 2023-02-02 17:45:43
Summary
Starbucks reported quarterly earnings and revenue that fell short of analysts' expectations due to weak international demand, particularly in China. Despite this, the company is still projecting revenue growth of 10-12% and adjusted earnings per share growth of 15-20% for fiscal 2023. Outgoing CEO Howard Schultz teased an announcement coming later in February.
Sentiment: MIXED
Tickers: SBUX,
Keywords: restaurants, howard schultz, breaking news: earnings, earnings, breaking news: business, business, starbucks corp, china, business news, retail industry, markets, united states,
Source: https://www.cnbc.com/2023/02/02/starbucks-sbux-q1-2023-earnings.html