Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Starbucks Corporation    SBUX

STARBUCKS CORPORATION

(SBUX)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Starbucks : traffic surges, posts best sales growth in three years

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/25/2019 | 06:44pm EDT
FILE PHOTO: A Starbucks sign is show on one of the companies stores in Los Angeles, California

(Reuters) - Starbucks Corp attracted more customers in the latest quarter on an expanded line up of beverages and food offerings in the United States and China, leading the coffee chain to raise its fiscal 2019 profit forecast.

Shares of the company rose nearly 6% to $96.40 (£77.4) after the bell and were on track to hit a record high, after the world's largest coffee chain posted its biggest same-store sales growth in three years.

Starbucks has been trying to make its menu more appealing by adding new beverages such as the Dragon drink and Cocoa Cloud Macchiato, while also expanding the delivery side of its business with new partnerships.

The added food options and Nitro Cold brew, a rich coffee that has a foamy texture like beer, lured more customers to stores during lunch hours, which is typically the slowest time of the day, the company said.

Those efforts led to a 3% growth in traffic in the second quarter.

"(Traffic is) an area where Starbucks has struggled," Edward Jones analyst Brian Yarbrough said. "A lot of investors were asking: 'When are you going to see a traffic increase?' ... This is a nice quarter on that standpoint."

The in-store traffic trend was encouraging as Starbucks and other restaurants had been raising prices to buffer bottom lines as more customers increasingly use mobile apps to order food and beverages.

The company has also been investing heavily in China by opening new stores and expanding delivery to cater to increased demand for on-the-go coffee.

Same-store sales rose 5% in China and the Asia-Pacific region, beating analysts' estimates of a 3.45% growth, according to IBES data from Refinitiv. In Americas, same-store sales surged 7%, above estimates of a 4.43% gain.

The company is now expecting same-store sales near the top end of its fiscal 2019 forecast of 3% to 4% growth and raised its earnings forecast to between $2.80 and $2.82 per share.

Total net revenue for the third quarter rose 8.1% to $6.82 billion. The company earned 78 cents per share.

Analysts had forecast a profit of 72 cents per share and revenue of $6.68 billion.

(Reporting by Nivedita Balu in Bengaluru; Editing by Bernard Orr and Anil D'Silva)

By Nivedita Balu

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on STARBUCKS CORPORATION
07/26Alphabet, Starbucks drive Wall Street to record high
RE
07/26Consumer Cos up After Strong Earnings, Economic Data -- Consumer Roundup
DJ
07/26MARKET SNAPSHOT: Stocks End Higher As Investors Cheer Earnings, GDP; S&P 500,..
DJ
07/26S&P 500, Nasdaq hit record highs; dollar gains ground
RE
07/26S&P 500, Nasdaq hit record highs; dollar gains ground
RE
07/26S&P 500, Nasdaq hit record highs; dollar gains ground
RE
07/26STARBUCKS : sees major gains in US and China from delivery, mobile ordering and ..
AQ
07/26McDonald's beats sales forecast on new deals, store revamp
RE
07/26McDonald's beats sales forecast on new deals, store revamp
RE
07/26Consumer-Focused Companies Soar Toward New Highs
DJ
More news
Financials (USD)
Sales 2019 26 441 M
EBIT 2019 4 474 M
Net income 2019 3 588 M
Debt 2019 8 665 M
Yield 2019 1,52%
P/E ratio 2019 34,2x
P/E ratio 2020 32,3x
EV / Sales2019 4,87x
EV / Sales2020 4,55x
Capitalization 120 B
Chart STARBUCKS CORPORATION
Duration : Period :
Starbucks Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends STARBUCKS CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 93,89  $
Last Close Price 99,11  $
Spread / Highest target 11,0%
Spread / Average Target -5,27%
Spread / Lowest Target -21,3%
EPS Revisions
Managers
NameTitle
Kevin Johnson President, Chief Executive Officer & Director
Myron E. Ullman Chairman
Rosalind Gates Brewer COO, Director & Group President-Americas
Leo Tsoi Chief Operating Officer
Patrick J. Grismer Chief Financial Officer & Executive Vice President
Sector and Competitors
1st jan.Capitalization (M$)
STARBUCKS CORPORATION41.27%120 042
COMPASS GROUP PLC23.58%40 065
COMPASS GROUP PLC (ADR)21.15%40 065
SODEXO17.99%17 112
DARDEN RESTAURANTS INC.23.76%15 503
WHITBREAD-0.55%7 513