Starbucks shares sink 12% as coffee chain slashes 2024 forecast amid same-store sales drag
Publishing timestamp: 2024-05-01 10:21:41
Summary
Starbucks reported weaker-than-expected quarterly earnings and revenue, with a surprise decline in same-store sales. The company also slashed its forecast for fiscal 2024 earnings and revenue, leading to a 12% drop in its shares. CEO acknowledged challenges and opportunities ahead, with plans to attract more customers and improve sales.
Sentiment: NEGATIVE
Keywords: markets, restaurants, business, starbucks corp, earnings, dividends, breaking news: business, breaking news: markets, mcdonald's corp, breaking news: earnings, business news, pepsico inc., retail industry,
Source: https://www.cnbc.com/2024/04/30/starbucks-sbux-earnings-q2-2024.html