* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Thursday, October 23, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Reba McEntire Details Personal Relationship With Late Stepson Brandon Blackstock – KNDU

    Reba McEntire Shares Emotional Tribute to Her Late Stepson Brandon Blackstock

    Sacramento city leaders approve adding 2 entertainment zones in midtown – CBS News

    Sacramento City Leaders Approve Two Thrilling New Entertainment Zones in Midtown

    AMC brings first new Dolby Experience to Gwinnett since 2017 – Wyoming News Now

    AMC Launches First New Dolby Experience in Gwinnett Since 2017

    Hetzel Design: blending architecture and entertainment – Blooloop

    Hetzel Design: Where Architecture and Entertainment Unite in Perfect Harmony

    Country music legend rushed to hospital year after heart surgery. Here’s what we know – PennLive.com

    Country Music Legend Rushed to Hospital One Year After Heart Surgery – What’s Happening Now?

    Strictly Come Dancing results: Chris Robshaw is eliminated while drag queen La Voix escapes dance-off – Yahoo

    Strictly Come Dancing results: Chris Robshaw is eliminated while drag queen La Voix escapes dance-off – Yahoo

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Rydberg Technologies Inc. Announces Launch of Rydberg Photonics in Berlin – The Quantum Insider

    Rydberg Technologies Launches Exciting New Photonics Division in Berlin

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 Technology Stocks to Buy Now – Yahoo Finance

    3 Must-Buy Tech Stocks You Can’t Afford to Miss Right Now

    ‘New frontier’: Austin leaders start discussions on air taxi technology – KXAN Austin

    Austin Leaders Ignite Exciting Conversations on the Future of Air Taxi Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Reba McEntire Details Personal Relationship With Late Stepson Brandon Blackstock – KNDU

    Reba McEntire Shares Emotional Tribute to Her Late Stepson Brandon Blackstock

    Sacramento city leaders approve adding 2 entertainment zones in midtown – CBS News

    Sacramento City Leaders Approve Two Thrilling New Entertainment Zones in Midtown

    AMC brings first new Dolby Experience to Gwinnett since 2017 – Wyoming News Now

    AMC Launches First New Dolby Experience in Gwinnett Since 2017

    Hetzel Design: blending architecture and entertainment – Blooloop

    Hetzel Design: Where Architecture and Entertainment Unite in Perfect Harmony

    Country music legend rushed to hospital year after heart surgery. Here’s what we know – PennLive.com

    Country Music Legend Rushed to Hospital One Year After Heart Surgery – What’s Happening Now?

    Strictly Come Dancing results: Chris Robshaw is eliminated while drag queen La Voix escapes dance-off – Yahoo

    Strictly Come Dancing results: Chris Robshaw is eliminated while drag queen La Voix escapes dance-off – Yahoo

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Rydberg Technologies Inc. Announces Launch of Rydberg Photonics in Berlin – The Quantum Insider

    Rydberg Technologies Launches Exciting New Photonics Division in Berlin

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    A look into new technology at Columbia University that could help prevent a dangerous pregnancy complication – ABC7 New York

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    Office Technology: Dealers’ Managed IT Revenue up Nearly 30% – The Cannata Report –

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 E Network Technology Group Limited Closes $1.5 Million Convertible Promissory Note Offering – Quiver Quantitative

    3 Technology Stocks to Buy Now – Yahoo Finance

    3 Must-Buy Tech Stocks You Can’t Afford to Miss Right Now

    ‘New frontier’: Austin leaders start discussions on air taxi technology – KXAN Austin

    Austin Leaders Ignite Exciting Conversations on the Future of Air Taxi Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home General

Starbucks shares sink 10% as same-store sales fall, quarterly results miss

April 30, 2024
in General
Starbucks shares sink 10% as same-store sales fall, quarterly results miss
Share on FacebookShare on Twitter

A Starbucks coffee shop in Amsterdam.

Nicolas Economou | Nurphoto | Getty Images

Starbucks on Tuesday reported weaker-than-expected quarterly earnings and revenue, fueled by a surprise decline in same-store sales.

“In a highly challenged environment, this quarter’s results do not reflect the power of our brand, our capabilities or the opportunities ahead,” CEO Laxman Narasimhan said in a statement. “It did not meet our expectations, but we understand the specific challenges and opportunities immediately in front of us.”

Shares of the company fell 10% in extended trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

Earnings per share: 68 cents adjusted vs. 79 cents expectedRevenue: $8.56 billion vs. $9.13 billion expected

The coffee giant reported fiscal second-quarter net income attributable to the company of $772.4 million, or 68 cents per share, down from $908.3 million, or 79 cents per share, a year earlier.

Net sales dropped nearly 2% to $8.56 billion. The company’s same-store sales fell 4% as traffic to its cafes declined 6% in the quarter. Wall Street was anticipating same-store sales growth of 1%, according to StreetAccount estimates.

Across all regions, Starbucks reported shrinking same-store sales and falling traffic.

“In this environment, many customers have been more exacting about where and how they choose to spend their money,” Narasimhan told analysts on the company’s conference call.

In the U.S., same-store sales decreased 3% as traffic sank 7%. This marks the second quarter that the company’s home market has struggled. Last quarter, executives blamed sluggish sales on boycotts targeting the company due to “misperceptions” of its stance on Israel.

Narasimhan said the chain’s lavender drinks were one of its most successful launches.

Starbucks is also exploring how to meet overnight demand, from 5 p.m. to 5 a.m. The company conducted a pilot test, which Narasimhan said doubled business.

“Building off that success, we are aggressively pursuing options to build a $2 billion business over the next five years,” he said.

Starbucks’ international segment reported same-store sales declines of 6% as both average ticket and transactions dropped. In China, Starbucks’ second-largest market, same-store sales plunged 11%, fueled by an 8% decline in average ticket.

McDonald’s, PepsiCo and other companies have said this quarter that low-income consumers have pulled back their spending and are looking for deals.

“While it was a difficult quarter, we learned from our own underperformance and sharpened our focus with a comprehensive roadmap of well thought out actions making the path forward clear,” CFO Rachel Ruggeri said in a statement.

Narasimhan also said that the company now expects supply-chain cost savings of $4 billion over the next four years, revising its prior forecast of $3 billion over three years.

Starbucks said it will discuss its full-year financial outlook during the company’s conference call later on Tuesday. Last quarter, it said it anticipates revenue growth of 7% to 10%, global same-store sales growth in a range of 4% to 6% and earnings per share growth of 15% to 20%.

This story is developing. Please check back for updates.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : CNBC – https://www.cnbc.com/2024/04/30/starbucks-sbux-earnings-q2-2024.html

Previous Post

The NFL, Nickelodeon, Food Network and Harvard Business Review are Digiday Media Awards finalists

Next Post

Trump Media shares rise again, jump 50% in the past week

UIPM 2025 Obstacle World Championships (OCR): All you need to know – Union Internationale de Pentathlon Moderne (UIPM)

Your Ultimate Guide to the 2025 Obstacle World Championships

October 23, 2025
PPPs in Bolivia: The future of our economy? – Dentons

Could PPPs Unlock Bolivia’s Path to Economic Prosperity?

October 23, 2025
Reba McEntire Details Personal Relationship With Late Stepson Brandon Blackstock – KNDU

Reba McEntire Shares Emotional Tribute to Her Late Stepson Brandon Blackstock

October 23, 2025
Mark Peterson receives inaugural APSA Career Achievement Award in Health Politics and Policy – UCLA

Mark Peterson receives inaugural APSA Career Achievement Award in Health Politics and Policy – UCLA

October 23, 2025
GOP senator accuses Dems of playing politics with people’s lives: ‘This is a crime’ – Fox Business

GOP Senator Slams Democrats for Playing Politics with People’s Lives: ‘This Is a Crime

October 23, 2025
Forest cover enhances pest control by birds and bats independently of vineyard management intensity – besjournals

Forest cover enhances pest control by birds and bats independently of vineyard management intensity – besjournals

October 22, 2025
November Family Consumer Science Program – Alachua County

November Family Consumer Science Program – Alachua County

October 22, 2025
Correction: Anti-Science Movement story – The News-Gazette

Unraveling the Truth Behind the Anti-Science Movement: A Closer Look

October 22, 2025
Best Burgers 2025: 9 cult-favorite burgers off the beaten path – Yahoo

Best Burgers 2025: 9 cult-favorite burgers off the beaten path – Yahoo

October 22, 2025
Rydberg Technologies Inc. Announces Launch of Rydberg Photonics in Berlin – The Quantum Insider

Rydberg Technologies Launches Exciting New Photonics Division in Berlin

October 22, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (881)
  • Economy (903)
  • Entertainment (21,774)
  • General (17,751)
  • Health (9,944)
  • Lifestyle (915)
  • News (22,149)
  • People (903)
  • Politics (913)
  • Science (16,113)
  • Sports (21,402)
  • Technology (15,882)
  • World (886)

Recent News

UIPM 2025 Obstacle World Championships (OCR): All you need to know – Union Internationale de Pentathlon Moderne (UIPM)

Your Ultimate Guide to the 2025 Obstacle World Championships

October 23, 2025
PPPs in Bolivia: The future of our economy? – Dentons

Could PPPs Unlock Bolivia’s Path to Economic Prosperity?

October 23, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version