|Bid||77.67 x 800|
|Ask||77.70 x 800|
|Day's range||76.52 - 78.05|
|52-week range||50.02 - 99.72|
|Beta (5Y monthly)||0.80|
|PE ratio (TTM)||27.53|
|Earnings date||28 Jul 2020|
|Forward dividend & yield||1.64 (2.10%)|
|Ex-dividend date||07 May 2020|
|1y target est||79.88|
Brewing up some good news after the entire restaurant industry took a drubbing from COVID-19, Starbucks (NASDAQ: SBUX) published an open letter to its partners today describing its recovery following the possible recent decline in the pandemic's severity. It cites the start of the Transcontinental Railway during the American Civil War, and notes how, during the Cold War, "President John F. Kennedy united the country around a quest to the Moon." Starbucks attempts to strike an upbeat note throughout, in addition to providing some more concrete data.
Starbucks said on Thursday that it’s already seeing a rebound in U.S. customer visits that are "tracking slightly above" the coffee chain's own forecasts.
Luckin Coffee, a Starbucks competitor in China, said Tuesday it has been asked by NASDAQ to delist from the US stock exchange following a massive fraud scandal that has shaken the company. The announcement comes almost exactly a year after Luckin Coffee made a stunning debut on Wall Street, with a market value of some $4 billion.
Italians will be able to grab a cup of their favourite Starbucks coffee again after the group said on Monday it would reopen its Italian cafes, with the exception of its flagship location in central Milan. On Monday shops, restaurants, coffee shops and hair salons reopened in Italy as the government further softened its coronavirus lockdown rules, one of the world's strictest, which lasted 10 weeks. Starbucks said it would open its cafes in Milan and the one in the northern city of Turin but would still keep shut the Roastery in the finance capital's city centre, opened in September 2018, and the location at the city's Malpensa airport.
Although Starbucks (NASDAQ: SBUX) began opening its coffee shops earlier this month, it is asking its store landlords to cut it some slack on its rent for the next year, beginning June 1. In a letter to landlords obtained by Restaurant Business, the modifications are being sought "to support modified operations and adjustments to lease terms and base rent structures, so we can withstand this uncertainty together." According to real estate professionals quoted in the report, the request for concessions was "not well received" and considered "ridiculous" by some.
Do you need some good news for a change? Let’s examine some companies that are doing their part to help during the COVID-19 pandemic.
Looking to expand in China to confront Starbucks' (NASDAQ: SBUX) growth directly, Restaurant Brands International's (NYSE: QSR) coffeehouse Tim Hortons said it has secured financing for the strategy from Chinese conglomerate Tencent (OTC: TCEHY). Expanding another coffee chain in a country known for its love of tea may seem counterintuitive, but Starbucks has proved particularly adept at the exercise.
Starbucks (NASDAQ: SBUX), the largest coffee company in the world, fits seamlessly into this description. The result: a small black coffee at Starbucks costs a fraction of what it does at my favorite local shop. Up until the coronavirus pandemic, Starbucks delivered consistently strong earnings results.
Starbucks, which owns about a thousand restaurants in the United Kingdom, closed all its stores in March following government-mandated lockdown in the country to curb the spread of the virus. In China, 90% of Starbucks stores were now open and about 85% of its stores in the United States were open for delivery. Earlier this month, McDonald's Corp said it would reopen 15 restaurants in the United Kingdom for delivery only, while UK media has reported other chains are also looking at ways to get business going again.
Profitable growth, a global opportunity, and the ability to overcome challenges made it a winner. Identifying these traits can help you find other life-changing investments.
The pandemic has largely impacted the consumer discretionary sector, which attracts a major portion of consumer spending. However, the reopening of US states has come as a ray of hope for the sector.
Zacks Earnings Trends Highlights: Starbucks, Boeing, Alphabet, Advanced Micro Devices and Procter & Gamble
The coffee chain's results will continue to feel the impact of widespread stay-at-home orders, but improving trends in China demonstrate that the company can get back on track in 2020.