Starbucks (SBUX) aims to keep its growth story piping hot when it reports third quarter results as CEO Brian Niccol leads the company into year three of its turnaround plan.
Wall Street expects Starbucks global same-store sales to grow 5.7%, according to Bloomberg data, just shy of the 6.2% jump seen in Q2. Last year, the company saw a 2% decline in overall same-store sales growth in the third quarter.
The coffee chain is expected to report adjusted earnings per share of $0.56, an increase from $0.50 per share in the same period last year. Revenue is set to come in at $9.2 billion, down from $9.5 billion this time last year due to the transition of its China business to a joint venture.
In November, Starbucks announced it sold a 60% majority stake in its China business to Boyu Capital in a deal valuing the business at $4 billion.
In North America, sales are expected to see a 6% pop as the chain leans into fruity flavors and cold foams, which drive up average check sizes.
#starbucks #sales #billion
Wall Street expects Starbucks global same-store sales to grow 5.7%, according to Bloomberg data, just shy of the 6.2% jump seen in Q2. Last year, the company saw a 2% decline in overall same-store sales growth in the third quarter.
The coffee chain is expected to report adjusted earnings per share of $0.56, an increase from $0.50 per share in the same period last year. Revenue is set to come in at $9.2 billion, down from $9.5 billion this time last year due to the transition of its China business to a joint venture.
In November, Starbucks announced it sold a 60% majority stake in its China business to Boyu Capital in a deal valuing the business at $4 billion.
In North America, sales are expected to see a 6% pop as the chain leans into fruity flavors and cold foams, which drive up average check sizes.
#starbucks #sales #billion
2 hours ago
