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For its fiscal 2024 guidance, Starbucks' global and US same-store sales are expected to increase 4% to 6%, both down from the previous range of 5% to 7%. Shares ended Wednesday's trading session ...
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 .
SBUX data by YCharts. To be fair, Starbucks' same-store sales increased 5% in the first quarter. And one weak quarter doesn't make a trend. So investors shouldn't think that the house is on fire here.
As fiscal 2024 was wrapping up, the backwards momentum for Starbucks' business was certainly accelerating. Global same-store sales dropped 7% year over year in the fourth quarter, driven by an 8% ...
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%.
Consolidated net revenues increased 1% to $36.2 billion in fiscal year 2024, driven by 7% net new company-operated store growth, offset by a 2% decline in comparable store sales.
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 ...