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☆ The restaurant stocks that are killing it in this market have one thing in common
▼ + stars: | 2024-05-12 | by ( Jim Cramer | ) www.cnbc.com time to read: +17 min

When a company performs well and I interview its CEO on CNBC, I consider the stock's performance before fashioning my questions. Maybe the company had been poorly run and the guest is a new CEO who is turning it around. Once Wood picks a stock, that company can do no wrong, which is code for she can do no wrong. And take it from me, an old Mexican restaurant veteran, it travels better than any other restaurant chain. We should have just bought Dutch Bros. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)

Persons: Albert Manifold, Rather, That's, Chris Gibson, Jensen Huang, Huang, Gibson, Cathie Wood, Wood, that's, Brinker, Chipotle, Chipotle execs, Taco Bell, isn't, Yum, McDonald's, Laxman Narasimhan, Howard Schultz, let's, Narasimhan, Joe, Locker, Jim Cramer's, Jim Cramer, Jim, Al Drago Organizations: CNBC, Pharmaceuticals, Nvidia, ARK, Gallup, Darden, Diageo, Brands, KFC, Taco, Taco Bell, Texas, Starbucks, Management, Bros, Dutch Bros, Jim Cramer's Charitable, Starbucks Corp, Health, Education, Labor, Bloomberg, Getty Locations: United States, U.S, Dublin, Ireland, Europe, Texas, Olive, East, Israel, Washington , DC

☆ Dutch Bros CEO details nationwide expansion strategy as company nears 900 locations
▼ + stars: | 2024-05-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Dutch Bros CEO Christine Barone discussed her company's expansion strategy in an interview with CNBC's Jim Cramer, saying the coffee chain focuses on training employees when they go to a new market. Barone said Dutch Bros is "on the path" to 4,000 stores and hit 876 locations this quarter. Dutch Bros beat analysts' expectations when it reported earnings Tuesday evening, and shares closed 11.79% higher Wednesday. The company's success follows a weaker-than-expected quarter from competitor Starbucks . Barone, who took over as CEO in January, attributed some of Dutch Bros' success to its emphasis on customer service.

Persons: Christine Barone, CNBC's Jim Cramer, Barone, they're, Laxman Narasimhan, We've Organizations: Dutch Bros, Bros, Starbucks Locations: Dutch, Oregon, West, Florida, Texas, Tennessee, East Coast

☆ Wall Street analyst jumps to Disney's defense — plus, why Broadcom is bucking the chip decline
▼ + stars: | 2024-05-08 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Both Arista and Broadcom are on the Ethernet side of AI networking," Jim Cramer said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, we'll, Laxman, Narasimhan, Howard Schultz, Jim Cramer's, Jim Organizations: CNBC, Dow, Dow Jones, Nasdaq, Broadcom, Arista Networks, Arista, Starbucks, Barclays, Disney, Arm Holdings, Warner Bros, Constellation Energy, Jim Cramer's Charitable

☆ Ahead of retail earnings, here's what we know about the consumer so far
▼ + stars: | 2024-05-07 | by ( Robert Hum | ) www.cnbc.com time to read: +5 min

There are signs that the U.S. consumer is still spending, especially on experiences. But stubbornly high prices are squeezing consumers with lower incomes, pressuring everyday purchases and corporate profits. Broadly speaking, credit card companies like American Express, Visa and MasterCard have described spending trends as "relatively strong," "relatively stable," and even "healthy." Priceline parent Booking Holdings told analysts there are no signs consumers are taking shorter vacations or trading down in their hotel choices. McDonald's added that "the consumer is certainly being very discriminating in how they spend their dollar."

Persons: Brandon Bell, Morgan Stanley's Michael Wilson, Morgan Stanley, Mike Stocker, Stanley Black, Decker, —, Anton Pinsky, Beata Zawrzel, Laxman Narasimhan, Shack, Domino's, Pavlo Gonchar Organizations: Getty, Home Depot, Walmart, American Express, Visa, MasterCard, PayPal, Booking Holdings, Las, Port, Tribune, Service, Consumers, Whirlpool, Corp, Starbucks Corp, Nurphoto, Lightrocket Locations: Austin , Texas, U.S, Las Vegas, Port of Miami, Krakow, Poland, Russia, Ukraine

☆ Howard Schultz wants Starbucks to fix its American business
▼ + stars: | 2024-05-06 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Former Starbucks CEO Howard Schultz might have left the coffee giant several months ago, but he’s still offering critiques of the company he ran for about 25 years over three stints. The answer does not lie in data, but in the stores,” Schultz wrote. Laxman Narasimhan, Starbucks’ current CEO who Schultz helped pick, reported a “disappointing” quarter in its second-quarter earnings last week. The company experienced a decline in same-store sales for the first time since 2020 and slashed its full-year sales outlook. Narasimhan vowed to turn the business around by including an update to its app and mobile and payment offerings, improving service times and rolling out revamped menu items to lure customers back.

Persons: Howard Schultz, he’s, Schultz, ”, ” Schultz, “, Laxman Narasimhan, Narasimhan Organizations: New, New York CNN, Starbucks, National Labor Relations Board Locations: New York, United States, China

☆ US brands like McDonald's and Starbucks are facing mounting backlash in the Middle East as tensions rise
▼ + stars: | 2024-05-06 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Read previewFor the second quarter in a row, America's biggest fast-food brands continued to see their sales hit by consumer boycotts in the Middle East. McDonald's said last week that it took a sales hit from "the ongoing war in the Middle East" at restaurants in that part of the world. AdvertisementSome consumers in the Middle East and other parts of the world have avoided brands associated with the US, citing America's support of Israel. At Starbucks, the problems in the Middle East took a toll on second-quarter international sales, CFO Rachel Ruggeri said. The analysts wrote that "a social media narrative around [Starbucks'] position on the Middle East may be the primary driver" of slower sales in the US.

Persons: —, McDonald's, Ian Borden, We're, Chris Kempczinski, Rachel Ruggeri, Laxman Narasimhan, David Gibbs, Gibbs Organizations: Service, Business, Starbucks, Bank of America, KFC, Yum ! Brands Locations: Japan, Europe, America, Domino's, Gaza, Israel, China, North America

☆ Jim Cramer says Howard Schultz's open letter to Starbucks is unlike anything he's seen before
▼ + stars: | 2024-05-06 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

The difficult road ahead for Club holding Starbucks took a dramatic, unexpected turn this weekend — one that Jim Cramer said he's not seen before in his four decades on Wall Street. "I think he's coming from the point of view just sadness about where the franchise is," Jim said. Narasimhan said Starbucks is working on a plan to speed up customer service and improve its supply chain. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Former Starbucks CEO Howard Schultz testifies about the company's labor and union practices during a Senate Committee on Health, Education, Labor and Pensions hearing on Capitol Hill in Washington, DC, March 29, 2023.

Persons: Jim Cramer, he's, Howard Schultz, Schultz, I've, Jim, Laxman Narasimhan, Kevin Johnson, SBUX, Narasimhan, Howard, Jim Cramer's, Saul Loeb Organizations: Club, Starbucks, CNBC, LinkedIn, Health, Education, Labor, Capitol, AFP, Getty Locations: U.S, North America, China, Washington , DC

☆ Howard Schultz says Starbucks needs to revamp its stores after big earnings miss
▼ + stars: | 2024-05-06 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Howard Schultz, former chief executive officer of Starbucks Corp., drinks from a Starbucks mug during a Senate Health, Education, Labor, and Pensions Committee hearing in Washington, DC, US, on Wednesday, March 29, 2023. The answer does not lie in data, but in the stores," Schultz wrote in a letter on Sunday evening posted to LinkedIn. He appeared to offer advice to his successor as he tries to turn the chain's sales around. "Leaders must model both humility and confidence as they work to restore trust and increase performance across the organization," Schultz wrote. A year and a half ago, Schultz told CNBC that he does not plan to come back as Starbucks' chief executive again.

Persons: Howard Schultz, Schultz, Sara Senatore, Laxman Narasimhan, Reckitt Organizations: Starbucks Corp, Health, Education, Labor, Starbucks, LinkedIn, Bank of America Securities, CNBC Locations: Washington , DC, U.S, East

☆ What's driving this multiday rally, plus Jim Cramer's quick takes on 4 stocks
▼ + stars: | 2024-05-06 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stock gains continue: The market is higher on Monday, extending its gains over the past three sessions to nearly 3%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jerome Powell, overbought, Jim Cramer's, Jim, Mellody Hobson, Howard Schultz, Laxman Narasimhan, Eli Lilly, Amgen, Lilly, Christian Organizations: CNBC, Stock, Starbucks, Worldwide Developers Conference, VisionPro, Nvidia, pharma, FDA, Simon Property Group, Club, Rockwell Automation, Jim Cramer's Charitable, Apple, Getty Locations: WWDC, Hamburg, Germany

☆ How previous investing mistakes are shaping my thinking on the latest stock gone wrong
▼ + stars: | 2024-05-05 | by ( Jim Cramer | ) www.cnbc.com time to read: +19 min

Three times a day we would gather "off the desk," and I would have to defend every stock we owned. First, there's the obvious mistakes that we have made: Bausch Health and Foot Locker . To signify the changes, he renamed it Bausch Health in 2018, after the eye-care company Valeant bought for $8.7 billion five years earlier. We thought the IPO market would come back, and Bausch Health would win the lawsuit and all would be back on track. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jeff Marks, Karen Cramer, Cramer, Karen, Max Palevsky, It's, Joseph Papa, Clint Eastwood, Papa, Jim Cramer, Valeant, Bausch, Locker, Mary Dillon, Dillon, Wall, Emerson, Cristiano Amon, Laxman Narasimhan, Howard Schultz, Narasimhan, Benckiser, Kevin Johnson, Schultz, Johnson, it's, —, Foot Locker, Jim Cramer's, Jim Organizations: Cramer &, Intel, Charitable Trust, Co, Starbucks, Bausch Health, Pharmaceuticals, Perrigo, Health, Norwich Pharmaceuticals, Former, Emerson Electric, Qualcomm, National, Eaton Corp, Broadcom, Palestine, PepsiCo, Nestle, Elliott Management, Emerson, CNBC, Getty Locations: China, —, Israel, U.S, BHC, FL, Jinan, East China's Shandong province

☆ Restaurants are competing for frugal diners’ dollars
▼ + stars: | 2024-05-03 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

For some restaurants, it feels like a battle to get them to spend. Olive Garden-parent Darden Restaurants saw same-restaurant sales dip during its most recent quarter. Darden saw sales from households with incomes above $150,000 climb from the prior year. What to expect in Friday’s jobs reportThe US job market has been on a roll for the past three years. That’s about 25,000 more jobs per month than last year and 111,000 more per month than in 2019.

Persons: ”, Laxman Narasimhan, “, we’ve, Ian Borden, Ricardo Cardenas, Scott Sheffield, “ Mr, —, Matt Egan, Read, Alicia Wallace, ” Julia Pollak, ZipRecruiter Organizations: CNN Business, Bell, New York CNN, Starbucks, Darden, OPEC, Federal Trade Commission, Sheffield, Organization of, Petroleum, Saudi Arabia, Regulators, Pioneer Natural Resources, CNN, of Labor Statistics Locations: New York, China, Olive, American, Saudi, Sheffield, Texas, OPEC, Russia

☆ Starbucks has to decide whether they're an experience brand or product brand, says Peter Atwater
▼ + stars: | 2024-05-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStarbucks has to decide whether they're an experience brand or product brand, says Peter AtwaterPeter Atwater, William and Mary adjunct lecturer of economics and ‘The Confidence Map’ author, joins 'Squawk Box' to discuss the troubles facing Starbucks after the company reported the worst quarterly performance since the pandemic, the management issues facing CEO Laxman Sarasimhan, and more.

Persons: Peter Atwater Peter Atwater, William, Mary, Laxman Sarasimhan

☆ Watch CNBC's full interview with Starbucks CEO Laxman Narasimhan
▼ + stars: | 2024-05-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Starbucks CEO Laxman NarasimhanStarbucks CEO Laxman Narasimhan joins 'Squawk on the Street' to discuss the company's Q2 results, which reported weaker-than-expected quarterly earnings and revenue, fueled by a surprise decline in same-store sales, news of the company cutting its full-year guidance, state of the consumer, expansion plans, China market competition, economic outlook, and more.

Persons: Laxman, Laxman Narasimhan Locations: China

☆ Amazon, Starbucks show how jittery US customers are about the economy
▼ + stars: | 2024-05-01 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Starbucks CEO Laxman Narasimhan said the coffee chain's customers were growing more cautious. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementUS consumers are becoming more prudent with their spending, executives at Amazon and Starbucks said on Tuesday. "A challenging macro environment including rising interest rates and elevated costs continues to create volatile consumer confidence levels and put pressure on consumer spending," Borden said then. Representatives for Amazon and Starbucks didn't immediately respond to requests for comment from BI sent outside regular business hours.

Persons: Brian Olsavsky, Laxman Narasimhan, —, Olsavsky, Narasimhan, Ian Borden, Borden Organizations: Starbucks, Service, Amazon, Bank of America, BI

☆ Analysts bail on Starbucks with 2 downgrades, slashed price targets. 'Stunning across-the-board miss,' says Blair
▼ + stars: | 2024-05-01 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

But Deutsche kept its $89 price target, which suggests the stock could gain just 0.6%, as of Tuesday's close. Starbucks stock hasn't logged a positive year since 2021. Bank of America's Sara Senatore maintained her buy rating and $108 price target, which implies roughly 22% potential upside — a fairly bullish aim compared with other firms. Underpinning Senatore's stance is her expectation that Starbucks' earnings growth will reaccelerate in 2025, fueled by traffic-driving initiatives, such as more menu innovation and operational improvements. JPMorgan analyst John Ivankoe kept his overweight rating but moved his price target lower to $92 from $100.

Persons: William Blair, Sharon Zackfia, Zackfia, Lauren Silberman, Deutsche, Wells, Bank of America's Sara Senatore, Laxman Narasimhan, John Ivankoe Organizations: Starbucks, Deutsche Bank, JPMorgan, UBS, Bank of America, Bank of America's Locations: Tuesday's, U.S, China, Wells Fargo, Israel

☆ Starbucks CEO on Q2 miss: Didn't communicate the value we provide in a more aggressive manner
▼ + stars: | 2024-05-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStarbucks CEO on Q2 miss: Didn't communicate the value we provide in a more aggressive mannerStarbucks CEO Laxman Narasimhan joins 'Squawk on the Street' to discuss the company's Q2 results, which reported weaker-than-expected quarterly earnings and revenue, fueled by a surprise decline in same-store sales, news of the company cutting its full-year guidance, state of the consumer, expansion plans, China market competition, economic outlook, and more.

Persons: Laxman Narasimhan Locations: China

☆ Jim Cramer: I was 'stunned' by Starbucks' terrible quarter
▼ + stars: | 2024-05-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer: I was 'stunned' by Starbucks' terrible quarterCNBC's Jim Cramer shares his thoughts on Starbucks following his interview with company CEO Laxman Narasimhan.

Persons: Jim Cramer, Laxman Narasimhan Organizations: Starbucks

☆ Starbucks says it's launching boba-inspired drinks this summer
▼ + stars: | 2024-05-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Starbucks is set to roll out its own version of boba in May, CEO Laxman Narasimhan said Tuesday. "We are launching our first texture innovation, Pearls," he said. Some Starbucks baristas have posted TikTok videos making drinks with "raspberry-popping pearls." AdvertisementStarbucks is set to roll out its own version of boba at its stores this summer, more than two years after it first confirmed that it was testing drinks with pearls. "For summer, we are launching our first texture innovation, Pearls," CEO Laxman Narasimhan told analysts at the company's earnings call Tuesday.

Persons: boba, Laxman Narasimhan, — Organizations: Starbucks, Service, Business

☆ Jim Cramer blasts Starbucks CEO in a CNBC interview after horrible quarter: 'I am stunned'
▼ + stars: | 2024-05-01 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +3 min

Jim Cramer on Wednesday blasted Starbucks CEO Laxman Narasimhan in a CNBC interview after the coffee giant delivered a terrible quarter and a guidance miss. The message from Narasimhan to Jim on TV: the quarter was bad due to China's choppiness and bad weather in the U.S. Jim questioned Narasimhan at every turn and strongly asked why Starbucks was still moving forward with expansion plans. Shortly after the CNBC interview, Cramer reflected on meetings he had with Narasimhan several times when he first took over as CEO from Howard Schultz. Jim's Charitable Trust, the portfolio used for the CNBC Investing Club , owns shares of Starbucks.

Persons: Jim Cramer, Laxman Narasimhan, Jim, Narasimhan, it's, China's, Tim Horton's, McDonald's, Dunkin, Cramer, Howard Schultz, that's, Jeff Marks Organizations: CNBC, Starbucks, U.S, Wednesday's, Trust, Club Locations: America, Japan, U.S

☆ Starbucks says mornings are so busy that one in 8 mobile customers are abandoning orders
▼ + stars: | 2024-05-01 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

The company said a mid-teens percent of mobile customers abandon their carts due to long wait times. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Related storiesNarasimhan said on the company's earnings call that nearly two-thirds of Starbucks' morning business in the US is from rewards members using the mobile app, which has yielded a remarkable insight. "In other words, customers using Mobile Order-Pay put items into their carts and sometimes chose not to complete the order, citing long wait times and product unavailability." That works out to more than one in eight mobile order customers opting not to buy a menu item they were otherwise interested in — a hefty chunk of cash left on the table for Starbucks.

Persons: —, Laxman Narasimhan, Narasimhan Organizations: Starbucks, Service, Mobile Locations: Seattle

☆ Starbucks just had a ‘disappointing’ quarter. Here’s how it plans to turn things around
▼ + stars: | 2024-05-01 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Starbucks is brewing a turnaround plan that involves speedier service and expanding the number of promotions after its most recent quarter was “disappointing,” in the words of its own chief executive. “Let me be clear from the beginning, our performance this quarter was disappointing,” said CEO Laxman Narasimhan on the earnings call. Same-store sales in the United States fell 3%, a sharp reversal from the same quarter a year ago, when they grew 12%. In China, the chain’s second-largest market, sales fell a staggering 11%, with the company blaming competition from “value players” in the country. Starbucks is now forecasting revenue to grow in the low single digits, a steep decline from its previous forecast of 7% to 10%.

Persons: ”, Laxman Narasimhan, ” Narasimhan, “ Headwinds, Narasimhan Organizations: New, New York CNN, Starbucks, East, Alshaya Locations: New York, United States, China, Gaza

☆ Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald's
▼ + stars: | 2024-05-01 | by ( Amelia Lucas | ) www.cnbc.com time to read: +5 min

Starbucks announced a surprise drop in same-store sales for its latest quarter, sending its shares down 17% on Wednesday. Pizza Hut and KFC also reported shrinking same-store sales. Starbucks said bad weather dragged its same-store sales lower. Wingstop , Wall Street's favorite restaurant chain, reported its U.S. same-store sales soared 21.6% in the first quarter. This marks the second consecutive quarter that Burger King reported stronger U.S. same-store sales growth than McDonald's.

Persons: It's, McDonald's, it's, Taco Bell, January's snowstorms, we've, Ian Borden, Wall, International's Popeyes, Chris Kempczinski, Laxman Narasimhan, Narasimhan, David Gibbs, Taco, Yum, Burger, – Organizations: Starbucks Workers, D.C, Starbucks, KFC, Yum Brands, Taco, Bureau of Labor Statistics, Taco Bell, Brands Locations: Dupont Circle, Washington, Pizza, U.S, Australia, Canada, Germany, Japan, Taco

☆ Stocks pop after Fed decision, oil plunges, earnings mixed — what to watch in the market
▼ + stars: | 2024-05-01 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +6 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Before last week's strong quarter, CNBC learned that Alphabet's Google had laid off hundreds of employees from so-called core teams. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jerome Powell, Powell, It's, Morgan Stanley, DuPont, Jim, Laxman Narasimhan's, Estee Lauder, Stanley Black, Decker, Bernstein, Toni Sacconaghi, Apple, Sacconaghi, Jim Cramer's Organizations: CNBC, Federal Reserve, Dow, Nasdaq, Google, West Texas, Coterra, Cruise, Viking Holdings, Investment, Morgan, GE Healthcare, Nvidia, Big Tech, Linde, Bausch Health, Apple, Jim Cramer's Charitable Locations: India, Mexico, Gaza, WTI, Wall, China

☆ Starbucks shares sink 10% as same-store sales fall, quarterly results miss
▼ + stars: | 2024-04-30 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

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

Persons: Laxman Narasimhan, Rachel Ruggeri Organizations: Starbucks, LSEG, PepsiCo Locations: U.S, Israel, China

☆ Same-Store Sales at Starbucks Drop, Pushing Revenue Down 1.8%
▼ + stars: | 2024-04-30 | by ( Julie Creswell | More About Julie Creswell | ) www.nytimes.com time to read: +1 min

Throughout the Covid pandemic, various supply chain issues and high inflation, Starbucks could still count on its consumers to buy their iced oat milk lattes. But that economic certainty may be in doubt after the coffee giant reported weaker-than-expected revenue and earnings in the latest quarter. Starbucks said on Tuesday that global revenue fell 1.8 percent, to $8.56 billion, while net earnings slid 15 percent, to $772.4 million, in the three months that ended March 31. Starbucks also lowered its revenue and earnings growth for the full year, reflecting the difficulties in the quarter. “It did not meet our expectations, but we understand the specific challenges and opportunities immediately in front of us.”

Persons: ” Laxman Narasimhan, ” Organizations: Starbucks Locations: United States

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