Starbucks shares sink 12% as coffee chain slashes 2024 forecast amid same-store sales drag [MSNBC.com]
Starbucks Corporation (SBUX)
Last starbucks corporation earnings: 4/28 04:05 pm
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Source: MSNBC.com
StarbucksShares of the company fell 12% in extended trading."In a highly challenged environment, this quarter's results do not reflect the power of our brand, our capabilities or the opportunities ahead," CEO Laxman Narasimhan said in a statement. "It did not meet our expectations, but we understand the specific challenges and opportunities immediately in front of us."In the U.S., same-store sales decreased 3% as traffic sank 7%. This marks the second quarter that the company's home market has struggled. Last quarter, executives blamed sluggish sales on boycotts targeting the company due to "misperceptions" of its stance on Israel.Starbucks' international segment reported same-store sales declines of 6% as both average ticket and transactions dropped. In China, Starbucks' second-largest market, same-store sales plunged 11%, fueled by an 8% decline in average ticket."In this environment, many customers have been more exacting about where and how they choose to spend their money," Naras
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SBUX
Earnings
- 4/30/24 - Miss
SBUX
Sec Filings
- 5/21/24 - Form 144
- 5/17/24 - Form 4
- 4/30/24 - Form 10-Q
- SBUX's page on the SEC website