The Starbucks logo is visible in a cafe in Lisbon, Portugal on February 13, 2024.
Jakub Bolzycki | Noor Photos | Getty Images
Starbucks More details about the fiscal fourth quarter will be shared after the bell on Wednesday.
The coffee giant shares its Preliminary quarterly results On October 22, its sales fell for the third consecutive quarter.
Here’s what Wall Street analysts surveyed by London Stock Exchange Group (LSEG) expected from the company’s report:
- Earnings per share: Estimated $1.03
- income: Expected to be US$9.38 billion
This financial report marks Brian NicolThis is the first time the business has turned a profit since joining the company in September.
Investors will look forward to hearing more details Nico’s strategy. He has previously said he plans to focus first on reviving U.S. sales and bringing the brand “back to Starbucks.” When the coffee chain released its initial report, Nicholl said in prepared remarks that the company would simplify its menu, finalize pricing and ensure all drinks are delivered to customers.
Starbucks’ sales fell 3% in its most recent quarter, with same-store sales down 7%, the company’s biggest decline since the Covid-19 pandemic, according to preliminary reports. Same-store sales in North America fell 6%, and same-store sales in China fell 14%. The company reported preliminary adjusted earnings of 80 cents per share.
Starbucks pauses fiscal 2025 outlook, citing CEO handover and its recent dismal performance.
Starbucks shares are up 1% this year, up more than S&P 500 Index The increase reached 22%. The company has a market capitalization of $111 billion.
