Starbucks stock rises 10% as U.S. customers buy into pricier drinks
Publishing timestamp: 2023-11-02 10:24:25
Summary
Starbucks reported quarterly earnings and revenue that exceeded Wall Street's expectations. The company's same-store sales rose 8%, driven by higher average checks and increased customer traffic. Starbucks' U.S. locations outperformed analysts' expectations. The company's shares rose 10% in morning trading. Starbucks also provided an outlook for fiscal 2024, with expectations of same-store sales growth of 5% to 7% and an increase in its global footprint.
Sentiment: POSITIVE
Keywords: retail industry, united states, breaking news: earnings, dividends, business news, lifestyle, china, restaurants, business, yum china holdings inc, breaking news: markets, starbucks corp, breaking news: business, markets, earnings,
Source: https://www.cnbc.com/2023/11/02/starbucks-sbux-earnings-q4-2023.html