CNBC's Jim Cramer said Wednesday that Starbucks ' setback in its China and the U.S. segments will eventually get better, given its strong brand, execution, and profitability.
After the closing bell on Tuesday, Starbucks reported a fiscal 2024 first-quarter earnings miss on its top and bottom lines.
Full-year 2024 revenue guidance was also lowered.
"We experienced a slower-than-expected recovery in China, driven by a more cautious consumer," said Narasimhan on the company's post-earnings call.
Starbucks is a holding in Jim Cramer's Charitable Trust , the portfolio used by the CNBC Investing Club.
Persons:
CNBC's Jim Cramer, Cramer, Laxman Narasimhan, Jim Cramer's
Organizations:
Starbucks, cautioning Club, Jim Cramer's Charitable Trust, CNBC, Club
Locations:
China, U.S, Israel