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☆ 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

☆ 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

☆ Starbucks stock is cheap. Here's why we're not planning to buy more of it yet
▼ + stars: | 2024-03-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

Investors have lost their taste for Starbucks stock as the company faces headwinds in key markets across the globe. SBUX .SPX YTD mountain Starbucks' year-to-date stock performance compared with the S & P 500. At this point, the question is whether the possibility of a weak quarter and lowered guidance are already priced into Starbucks' stock. In light of the report, we lowered our price target on Starbucks stock to $115 per share from $125, but maintained our 1 rating. A Starbucks logo is seen as members and supporters of Starbucks Workers United protest outside of a Starbucks store in Dupont Circle, Washington, D.C., on Nov. 16, 2023.

Persons: Jeff Marks, Michael Conway, Brady Brewer, Laxman Narasimhan, it's, Rachel Ruggeri, Morgan Stanley, reshuffling, Wells, Jim Cramer's, Jim Cramer, Jim, Kevin Dietsch Organizations: Down, North, Starbucks International, Starbucks, Deutsche Bank, CNBC, Starbucks Workers, D.C, Getty Locations: U.S, China, Israel, North America, America, Europe, Starbucks China, Wells, Starbucks, Dupont Circle, Washington

☆ We’re looking to buy more of this health care stock after an overblown selloff
▼ + stars: | 2024-03-19 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. JPMorgan analysts lowered their price target on Starbucks stock Tuesday, the latest in a string of downbeat calls around the coffee chain. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Dow, don't, Rachel Ruggeri, Reckitt Benckiser, Jim Cramer's, Jim Organizations: CNBC, Big Tech, Nasdaq, Nvidia, JPMorgan, Abbott Laboratories, NEC Locations: China

☆ Starbucks is trialing late-night coffee deliveries for people who get midnight caffeine cravings
▼ + stars: | 2024-02-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Starbucks customers in Philadelphia can get the chain's coffee delivered in the middle of the night. Delivery makes up just 2% of Starbucks' orders, though customers generally spend more per transaction. Around three dozen employees were trained to prepare Starbucks orders at the two sites, it reported. Some of the Starbucks drinks available on Gopuff at around 4:30 a.m. Delivery, which Narasimhan said on Tuesday makes up just 2% of its orders, is an area of focus for Starbucks.

Persons: baristas, Gopuff, —, Laxman Narasimhan, Narasimhan, Rachel Ruggeri, DoorDash Organizations: Starbucks, Service, Gopuff, Philadelphia Inquirer, DoorDash Locations: Philadelphia, Gopuff

☆ Starbucks CFO on Q1 misses: Incredibly strong quarter globally despite 'transitory headwinds'
▼ + stars: | 2024-01-31 | 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 EmailStarbucks CFO on Q1 misses: Incredibly strong quarter globally despite 'transitory headwinds'Starbucks CFO Rachel Ruggeri joins 'Squawk Box' to discuss the company's quarterly earnings results, which reported quarterly earnings and revenue that missed Wall Street’s expectations, 2024 outlook, and more.

Persons: Rachel Ruggeri

☆ Starbucks customers are placing bigger orders than they ever have before
▼ + stars: | 2024-01-31 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Starbucks customers at US stores are spending more per order than ever before, execs said Tuesday. Ruggeri attributed the record ticket sizes to the specific products customers picked, rising menu prices, and the number of customizations they added to their beverages. Starbucks' cold foam, which generally costs $1.25, is its most popular add-on, company executives said last summer. A record number of Starbucks orders — around 30% — are now placed via its app, and its US delivery business has grown nearly 80% year-over-year, Narasimhan said on Tuesday. Store efficiency also increased, Ruggeri said, with a record number of items made per labor hour.

Persons: execs, —, Rachel Ruggeri, Ruggeri, didn't, Laxman Narasimhan, Food, Narasimhan, there'd, bakes Organizations: Service, Business, Starbucks Locations: China, Gaza

☆ Here's why Starbucks shares can rally after a quarterly earnings miss
▼ + stars: | 2024-01-30 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

On a year-over-year basis, sales rose 8.2%. Still, the comparable store sales challenges in the U.S. and China force us to be less upbeat about the company's prospects than we were after prior quarter. In Starbucks' international segment, comparable store sales rose 7% as transactions increased 11% but ticket amount dropped 3%. Comparable store sales in China rose 10%, the company said, below the the 17% estimate, according to Bloomberg data. It expects full-year comparable sales on a global basis and in the U.S. to grow 4% to 6%.

Persons: Jim Cramer, Laxman Narasimhan, Narasimhan, Rachel Ruggeri, Ruggeri, Jim Cramer's, Jim, Gabby Jones Organizations: Starbucks, Revenue, Management, Buyers, Wall Street, FactSet, U.S, Bloomberg, CNBC, Getty Locations: China, U.S, North America, Israel, New York

☆ Pricey lattes helped boost Starbucks sales
▼ + stars: | 2023-11-02 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

New York CNN —Extra shots, cold foam, oat milk and sugary syrups — coffee snobs might turn their noses up at Starbucks’ custom, often wildly indulgent, lattes and cappuccinos. High-priced lattes and customized drinks helped lift the coffee chain’s US sales in the quarter ending on October 1, the company said Thursday. In North America, sales at Starbucks-operated stores open at least 13 months jumped 8% in the quarter, driven mostly by people spending more per visit. Starbucks’ financial results beat Wall Street’s expectations, sending shares of the company up about 11% Thursday. But as Starbucks customers are shelling out more for ever-more elaborate drinks, other consumers are pulling back.

Persons: Rachel Ruggeri, Ruggeri, Laxman Narasimhan, “, ”, we’ve, Taco Bell, McDonald’s, Narasimhan, we’re Organizations: New, New York CNN, Starbucks, ”, Investors Locations: New York, North America, China

☆ Starbucks stock rises 6% as U.S. customers buy into pricier drinks
▼ + stars: | 2023-11-02 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

The company's same-store sales rose 8%, fueled by higher average checks and a 3% increase in customer traffic to its cafes. Analysts surveyed by StreetAccount were expecting same-store sales growth of 6.8%, but the company's domestic locations outperformed. And in China, Starbucks' second-largest market, same-store sales rose 5%. Looking to fiscal 2024, Starbucks expects same-store sales growth of 5% to 7%, down from its long-term forecast of 7% to 9% same-store sales growth. Starbucks projects that China will report same-store sales growth of 4% to 6% during the last three quarters of the fiscal year.

Persons: StreetAccount, Laxman Narasimhan, we're, Narasimhan, Rachel Ruggeri, Ruggeri Organizations: Starbucks, LSEG Locations: New York, North America, China, Its U.S, New York City

☆ Starbucks CFO Rachel Ruggeri on earnings results: Fueled by success in our reinvention plan
▼ + stars: | 2023-08-02 | 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 CFO Rachel Ruggeri on earnings results: Fueled by success in our reinvention planStarbucks CFO Rachel Ruggeri joins 'Squawk Box' to discuss the coffee chain's quarterly earnings results, which posted higher than expected profits but missed revenue estimates, the strength of the consumer, and more.

Persons: Rachel Ruggeri

☆ More Starbucks customers are ordering food with their drinks than ever before
▼ + stars: | 2023-08-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

More Starbucks customers are ordering food than ever before, Starbucks execs say. Two in every five customers added food to their order and breakfast sandwich sales hit a record high. A breakfast sandwich from Starbucks costs roughly the same as a plain grande latte. Two in every five customers added food to their order in the quarter to July 2, up by 25% over five years ago, CFO Rachel Ruggeri told investors. A breakfast sandwich from Starbucks costs roughly the same as a grande latte with no modifications.

Persons: Starbucks execs, Rachel Ruggeri, Laxman Narasimhan, execs Organizations: Starbucks, Service Locations: Wall, Silicon

☆ It's the hottest cold drink at Starbucks – and it barely contains any coffee
▼ + stars: | 2023-08-02 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

Cold beverages, especially Refreshers, are driving sales at Starbucks. Starbucks Refreshers, a popular line of fruity drinks infused with green coffee extract, usually sell more in the afternoon. "This includes this summer's launch of our Starbucks Refreshers frozen beverages," Narasimhan said. Cold foam, the fastest-growing add-on at Starbucks, can be added to Refreshers, and Starbucks is rolling out "faster and easier to use" cold foam blenders "to meet the summer demand for Starbucks Refreshers frozen beverages," Narasimhan said. "The new blenders support the additional growth of cold foam, the fastest-growing customization at Starbucks," the CEO said.

Persons: they've, Laxman Narasimhan, Narasimhan, Rachel Ruggeri, Refreshers Organizations: Starbucks, Service Locations: Wall, Silicon, Refreshers

☆ U.S. fast-food chains add automation to boost speed
▼ + stars: | 2023-08-02 | by ( Kailyn Rhone | ) www.reuters.com time to read: +3 min

With mass shortages of low-cost labor due to the pandemic, chains shifted to technology investments in their kitchens to fill the gap. The addition of automation tools in restaurant chains could cut down on wait times, driving higher consumer engagement and increasing sales for the rest of the year, restaurant executives say. Thirty-six percent of 1,000 U.S. people told HungerRush in a survey in May that they believed major restaurant chains don’t have enough staff to take orders, prepare food, and handle deliveries. Last year, Domino's Pizza Enterprises announced an automated pizza prep device in partnership with Picnic Works, a Seattle-based food-automation startup. "Anytime there's new automation, it creates new kinds of jobs," said Gaurav Kachhawa, chief product officer at Gupshup, a conversational messaging platform.

Persons: Carlo Allegri, Rachel Ruggeri, HungerRush, Aaron Nilsson, Chipotle, Brian Niccol, Domino's, Gaurav Kachhawa, It's, Jonathan Oatis Organizations: REUTERS, Siren, Starbucks, National Restaurant Association, Society, Pizza Enterprises, Picnic, Kailyn, Thomson Locations: Manhattan, New York City , New York, U.S, Michigan, Colorado, Houston, Seattle, Indiana, Indiana , Illinois, Wisconsin

☆ Cold drinks are hotter than ever at Starbucks
▼ + stars: | 2023-08-01 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

Cold beverages continue to be a fan favorite at Starbucks. Cold foam is the fastest growing add-on at Starbucks. But today, cold drinks are hotter than ever at that coffeehouse chain. Cold drinks accounted for 75% of beverage sales in the company's third quarter. Cold foam, in fact, is the fastest-growing add-on at Starbucks, he said.

Persons: We're, Laxman Narasimhan, Rachel Ruggeri, rollouts, Narasimhan, Ruggeri, That's Organizations: Starbucks . Food, Service, Starbucks Locations: Wall, Silicon, America

☆ Starbucks, Estée Lauder, Qualcomm: Global companies warn of slower-than-expected recovery in China
▼ + stars: | 2023-05-11 | by ( Michelle Toh | ) edition.cnn.com time to read: +6 min

Starbucks (SBUX) and Qualcomm (QCOM) have also flagged uncertainties related to the country, which is a top market for both. Beijing abandoned its zero-Covid policy in December and scrapped longstanding quarantine requirements for international arrivals in January, ending restrictions that had isolated its economy. The welcomed, if abrupt, policy U-turn led to hopes that China could help propel global growth as it had before the pandemic. The idea was that as soon as the zero-Covid policy would be over, the Chinese households and consumers would just go berserk. Starbucks warned last Tuesday that sales growth in China was starting to cool — and likely would continue that trajectory over the next six months.

☆ Starbucks CFO: We were incredibly proud of the recovery that we saw in the quarter in China
▼ + stars: | 2023-05-03 | 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 EmailStarbucks CFO: We were incredibly proud of the recovery that we saw in the quarter in ChinaStarbucks CFO Rachel Ruggeri joins 'Squawk Box' to discuss the company's Q1 results, preparing for a possible recession, doing business in China, and more.

☆ Starbucks’ new CEO lays out improvement plan
▼ + stars: | 2023-05-02 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

New York CNN —During his first earnings call as the new Starbucks CEO, Laxman Narasimhan praised the company for its financial performance. In the quarter ending on April 2, sales at company-operated Starbucks stores open at least 13 months jumped 11% globally, including a 12% increase in North America. Before officially becoming CEO in March, Narasimhan spent about six months shadowing former interim CEO Howard Schultz in an incoming CEO capacity. Since December 2021, about 300 Starbucks stores have voted to unionize and been certified by the NLRB. It’s a relatively small number compared to the roughly 9,300 company-operated Starbucks stores in the United States.

Though, Ford CEO Jim Farley made it clear Tuesday that he would not price his electric vehicles purely to gain market share. But with execution improving and our patience paid for through the roughly 5% dividend yield, we are sticking by Ford. Ford expects Ford Blue to deliver full year EBIT of about $7 billion, Ford Model e to report a loss of around $3 billion, and Ford Pro's EBIT to be around $6 billion. We maintain a 2 rating on Starbucks stock for now, but expect we may soon be looking to buy shares back. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Starbucks CFO: We expect the back half of the year to be stronger than Q1 and Q2
▼ + stars: | 2023-02-03 | 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 EmailStarbucks CFO: We expect the back half of the year to be stronger than Q1 and Q2Starbucks CFO Rachel Ruggeri joins 'Squawk Box' to discuss the company's China business, the strength of the U.S. consumer, and more.

☆ Starbucks misses expectations as China drags down international sales
▼ + stars: | 2023-02-02 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Starbucks on Thursday reported quarterly earnings and revenue that fell short of analysts' expectations as weak international demand weighed on its results. However, Starbucks now expects negative same-store sales growth in China through the fiscal second quarter, followed by a reversal of the trend in the second half of the fiscal year. Globally, its same-store sales rose 5%, driven by a 7% increase in average transaction spend. In the U.S., Starbucks saw same-store sales growth of 10%, thanks to customers spending more and a 1% bump in traffic. Outside its home market, Starbucks' same-store sales shrank 13%, dragged down by China's dismal performance.

Here's the Club's condensed earnings reaction for Starbucks, Ford Motor and Qualcomm. Guidance Starbucks' fiscal 2023 guidance remains unchanged, CFO Rachel Ruggeri said on the company's earnings call, despite continued headwinds related to China's Covid recovery. Ford Motor Quarterly commentary Ford Motor (F) reported a messy fourth quarter Thursday, with adjusted earnings per share coming in well below Street expectations and overshadowing a topline revenue beat. F 5D mountain Ford (F) 5-day performance Guidance Ford said Thursday it expects full-year adjusted earnings before interest and taxes to total between $9 billion and $11 billion. Qualcomm Quarterly commentary Qualcomm 's (QCOM) fiscal 2023 first-quarter earnings topped analysts' estimates Thursday, despite lighter-than-projected revenues in the three months ended Dec. 25.

☆ Starbucks CFO Rachel Ruggeri on earnings: We are focused on the customer experience
▼ + stars: | 2022-11-04 | 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 EmailStarbucks CFO Rachel Ruggeri on earnings: We are focused on the customer experienceStarbucks CFO Rachel Ruggeri joins CNBC's 'Squawk Box' to discuss the coffee chain's third-quarter earnings report, which beat Wall Street's expectations on Thursday.

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