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It seems Starbucks, a household name for consumers, is implementing a turnaround strategy, while the coffee chain company reported its quarterly earnings as well as sixth straight quarter of same-store sales declines.
The following is what the company reported for this quarter:
Earnings per share: 50 cents adjusted. It was not immediately clear if it was comparable to the 65 cents expected. Revenue: $9.5 billion vs. $9.31 billion expected
Starbucks reported fiscal quarter net income attributable to the company of $558.3 million, or 49 cents per share, down from $1.05 billion, or 93 cents per share, a year earlier.
Excluding restructuring costs and other items, the company earned 50 cents per share. A discrete tax item and a one-time investment hosting the company’s three-day event for U.S. store managers weighed on the company’s earnings per share by 11 cents.
Net sales rose 4% to $9.5 billion. But global same-store sales declined 2%, a steeper drop than estimates of a 1.3% decrease. However, Starbucks’ North American cafes performed better than expected. The chain’s North American same-store sales fell 2%, a smaller decline than the 2.5% projected.
In fact, Starbucks is facing trilemma situation domestically and globally, which includes global same-store sales declines, intensifying competition as well as sluggish consumption in Chinese market, which further more overshadows the prospect of Starbucks. Facing multiple headwinds, Starbucks CEO Brian Niccol indicated that financial results don’t yet reflect all the progress the company made, the signs are clear—it is gaining momentum, and he is fully confident in that the company’s comeback is ahead of schedule. Looking ahead to fiscal 2026, Starbucks has big plans, such as the chain will launch protein cold foam, improved artisanal food options, a new Starbucks app and a “refreshed” Rewards program, also plans to invest $500 million in labor, including the rollout of the “Green Apron Service” program which emphasizes customer interactions. Amid uncertain and competitive environment, whether Starbucks can reverse the downward trend to back on track of growth is the key point for investors to watch closely.Complete digital access to quality Glebors financial topic with expert analysis from industry leaders.
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