Starbucks Stock Just Plunged Following Its Fiscal Q2 Earnings. Time to Buy the Dip? [Yahoo! Finance]
Starbucks Corporation (SBUX)
Last starbucks corporation earnings: 4/28 04:05 pm
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US:NASDAQ Investor Relations:
investor.starbucks.com/ir-home/default.aspx
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Source: Yahoo! Finance
Let's look at why Starbucks stock fell, what its turnaround plans are, and whether now is a good time to buy the stock. Troubles in China and the U.S. With the U.S. and China representing over 60% of Starbucks global locations, these two markets are the most important for the coffeehouse operator. Unfortunately for the company, both markets saw considerable weakness during the quarter. In the U.S., Starbucks saw its same-store sales decline 3% compared to a 12% increase a year ago. Traffic to its stores fell 7%, while the average ticket price rose 4%. The company blamed a weakening economic outlook and severe weather in parts of the country for its weak U.S. results. Starbucks said that its occasional customers, in particular, were coming in less often. Increased prices together with a shift toward higher-priced cold drinks helped lift its average ticket. In China, meanwhile, comparable-store sales sank 11% compared to a 3% increase a year ago. Traffic to its stores fell 4%
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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