UPDATE 2-Starbucks to close 150 U.S. cafes to combat slowing growth [Reuters]
McDonald's Corporation (MCD)
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Source: Reuters
Starbucks to close 150 U.S. cafes to combat slowing growth | Reuters Reuters Staff 3 Min Read (Reuters) - Starbucks Corp ( SBUX.O ) on Tuesday said it would close 150 cafes in some saturated U.S. markets and warned comparable sales globally this quarter would miss Wall Street expectations, sending shares down 3 percent after hours. The world’s largest coffee chain has faced increasing competition from upscale coffee houses and fast-food chains like McDonald’s Corp ( MCD.N ) and Dunkin Donuts ( DNKN.O ) in recent years, missing analysts’ estimates for same-store sales in the U.S.-dominated Americas region in five of the last six quarters. The company anticipates lower net new store growth in the United States for fiscal 2019 and said it would take steps to address rapidly changing consumer preferences by introducing new beverages, focusing on growing health and wellness trends. “It seems fairly clear that the low-hanging fruit on causing everybody to get addicted to their (Starbu
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MCD
News
- Why the Market Dipped But McDonald's (MCD) Gained Today [Yahoo! Finance]Yahoo! Finance
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- Asia-Pacific Foodservice Report 2024: Market Size and Trends by Profit and Cost Sector Channels, Players and Forecasts 2017-2027 [Yahoo! Finance]Yahoo! Finance
- Starbucks is introducing a cold drink cup made with less plastic [Financial Post (Toronto, Ontario, Canada)]Financial Post
MCD
Earnings
- 2/5/24 - Beat
MCD
Sec Filings
- 4/18/24 - Form PX14A6G
- 4/9/24 - Form PX14A6G
- 4/8/24 - Form DEFA14A
- MCD's page on the SEC website