Starbucks revenue misses estimates as same-store sales decline for second straight quarter
Publishing timestamp: 2024-07-30 19:37:10
Summary
Starbucks' quarterly earnings met expectations, but revenue fell short. The company's sales slump is expected to continue, but results were not as bad as feared. Shares rose in extended trading. Starbucks reported lower revenue and same-store sales, but sees green shoots in its U.S. business with success of new products. Outside of North America, same-store sales slid, especially in China. The company is exploring strategic partnerships to accelerate growth in China. Starbucks reiterated its outlook for low single-digit revenue growth and flat to low single-digit earnings per share growth.
Sentiment: MIXED
Tickers: SBUX,
Keywords: lifestyle, howard schultz, breaking news: business, laxman narasimhan, earnings, markets, dividends, united states, business, retail industry, starbucks corp, business news, breaking news: markets, restaurants, breaking news: earnings,
Source: https://www.cnbc.com/2024/07/30/starbucks-sbux-q3-2024-earnings.html