Starbucks' quarterly sales decline in China was four times worse than the coffee chain expected and it has no ‘line of sight’ into when business there will fully recover, the company said, sending its shares down 2.2% in extended trading
Still, traffic started recovering in January and was "fantastic" during Lunar New Year, Starbucks China Chief Executive Officer Belinda Wong told investors on an earnings call on Thursday.
Starbucks posted a profit of 75 cents per share on an adjusted basis versus analysts average expected profit of 77 cents, according to Refinitiv. China has been Starbucks' fastest-growing market. It added a net 69 stores there over the quarter for a total of 6,090 locations. Global comparable sales at Starbucks rose 5%, compared with analysts' average estimate of a 6.75% rise, according to Refinitiv IBES data.
ایران آخرین اخبار, ایران سرفصلها
Similar News:همچنین می توانید اخبار مشابهی را که از منابع خبری دیگر جمع آوری کرده ایم، بخوانید.
Starbucks stock falls as earnings --- weighed down by China sales --- miss estimatesStarbucks' first-quarter results failed to meet Wall Street estimates because of weakness in China, and the company’s stock fell sharply in extended trading Thursday.
ادامه مطلب »
Starbucks' surprise China sales drop drags profits below estimatesStarbucks' quarterly sales decline in China was four times worse than the coffee chain expected and it has no 'line of sight' into when business there will fully recover, the company said on Tuesday, driving shares down 2.2% in extended trading.
ادامه مطلب »
Starbucks misses sales, revenue estimates as China faltersStarbucks reported lower-than-expected sales in its fiscal first quarter, with COVID store shutdowns in China overshadowing stronger results elsewhere. Global same-store sales — or sales at stores open at least a year — were up 5% in the October-December period, but that was partly due to higher prices.
ادامه مطلب »
Taylor: Union, management vie for the soul of StarbucksMichael Taylor examines the soulful struggle between Howard Schultz’s view of the world...
ادامه مطلب »
Actor James Martin, who stars in Oscar-nominated film, returns to Starbucks jobIf you think global recognition gets to everyone’s heads, think again. Actor James Martin casually resumed his day job at Starbucks despite starring in an Oscar-nominated film titled “A…
ادامه مطلب »