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On Wednesday, Starbucks (NASDAQ: SBUX) released preliminary fourth quarter results that fell short of estimates as weak U.S. demand resulted in declines in same store sales, net revenue and profit.
Global same-store sales declined for the second quarter in a row, down 3%, while overall foot traffic fell 5%. Adjusted earnings per share came in at $0.93, compared with estimates for $0.92.
Starbucks announced a surprise drop in same-store sales for its latest quarter, sending its shares down 17% on Wednesday. Pizza Hut and KFC also reported shrinking same-store sales .
In fact, it generated $8.6 billion in sales in the second quarter of 2024, ... Still, the combination of new stores and weak same-store sales at Starbucks is a troubling sign, and management needs ...
Starbucks shares ended 2024 down 5% compared to a 23% advance for the S&P 500 . McDonald's ( MCD ) shares finished the year up slightly. A Starbucks coffee shop is seen in Yichang City, Hubei ...
In the U.S., Starbucks saw its same-store sales fall 2% compared to a 7% increase a year ago. Traffic to its stores fell by 6%, while the average ticket price increased by 4%.
Starbucks said it now expects full-year same-store sales to be flat or fall by single-digit percentages, down from growth of 4% to 6%. It also said it expects full-year revenue growth in the low ...
For its international business, same-store sales were down 6%, with a 3% decline in foot traffic and ticket size. Similar to McDonald's (), Starbucks said the conflict in the Middle East weighed ...