Previous close | 451.72 |
Open | 455.85 |
Bid | 451.66 x N/A |
Ask | 461.47 x N/A |
Day's range | 455.85 - 459.97 |
52-week range | 430.11 - 577.28 |
Volume | |
Avg. volume | 210 |
Market cap | 521.243B |
Beta (5Y monthly) | 0.97 |
PE ratio (TTM) | 24.02 |
EPS (TTM) | 19.15 |
Earnings date | N/A |
Forward dividend & yield | 11.35 (2.51%) |
Ex-dividend date | 16 May 2024 |
1y target est | N/A |
Starbucks' decaf-like start to the year continues into the second quarter.
Starbucks (SBUX) reported disappointing second quarter results. Adjusted earnings per share of $0.68 fell short of the Street's $0.80 estimate. Net revenue of $8.56 billion missed expectations of $9.13 billion. The company reported a same-store sales decline of 4%, a 1.46% rise had been expected. In China, same-store sales fell 11% versus an expected decline of 1.62%. US same-store sales fell 3% compared to an expected gain of 2.31%. Yahoo Finance's Julie Hyman and Josh Lipton break down the coffee chain's quarterly results. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Stephanie Mikulich.
With demand falling across the board, Starbucks reported a fall in same-store sales for the first time in nearly three years, sending its shares down 8% in extended trading. "In a highly challenged environment, this quarter's results do not reflect the power of our brand," CEO Laxman Narasimhan said. Demand in the United States decelerated for a second straight quarter as boycott movements impacted traffic at its stores, while a choppy macro environment weighed on demand for its pricier beverages.