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Stock impact report

Despite Starbucks' earnings miss, Jim Cramer says CEO Brian Niccol can carry out turnaround [CNBC]

Starbucks Corporation (SBUX) 
Last starbucks corporation earnings: 4/28 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.starbucks.com/ir-home/default.aspx
Company Research Source: CNBC
The coffee chain's quarter missed expectations, and shares have fallen 5.66%. “This is a case where you simply have to bet on the jockey and remember that he can turn the horse around and make it a winner,” he said. CNBC's on Wednesday expressed faith in CEO Brian Niccol's ability to execute a turnaround, even though the coffee chain's quarter expectations and failed to impress Wall Street. “This is a case where you simply have to bet on the jockey and remember that he can turn the horse around and make it a winner,” he said. Starbucks weaker-than-expected earnings and revenue, posting another quarter of same-store sales declines. Shares dipped during Wednesday's session, finishing down 5.66%. Niccol admitted the results were “disappointing” on the earnings call, but he claimed that “behind the scenes, we really are showing a lot of signs of progress.” Cramer was incredulous that some on Wall Street would turn away from the company only six months into Niccol's term as CEO, Show less Read more
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