Starbucks Burns: Is It a Buying Opportunity or a Cautionary Tale? [Yahoo! Finance]
Starbucks Corporation (SBUX)
Last starbucks corporation earnings: 4/28 04:05 pm
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Source: Yahoo! Finance
It reported falling comparable sales and slashed guidance for the year, and management offered little more than empty buzzwords as a plan to stem the slide. Globally, comparable sales were down 4% in the fiscal second quarter, including a 6% decline in transactions. There didn't seem to be a geographical bright spot for the company, either. North America and U.S. comparable sales fell 3%, including a 7% comparable sales decline, and China comps were down 11%. Starbucks has long touted China as its top growth market, so those results are especially disappointing, especially as the company was experiencing growth in all major markets just a few quarters ago. Overall revenue was down 2% year over year to $8.56 billion, which badly missed estimates of $9.13 billion. Bottom-line results were also disappointing. Adjusted earnings per share fell 8% year over year to $0.68, below the $0.79 consensus. Looking ahead, the news was even worse. Starbucks slashed its EPS guidance for the year
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SBUX
Earnings
- 4/30/24 - Miss
SBUX
Sec Filings
- 5/17/24 - Form 4
- 4/30/24 - Form 10-Q
- 4/30/24 - Form 8-K
- SBUX's page on the SEC website