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Starbucks Serves Up Lukewarm Results
Here's our initial take on Starbucks' (NASDAQ: SBUX) fiscal second-quarter financial report.Starbucks' fiscal second-quarter report for the period ended March 30 didn't give investors everything they had hoped to see. Overall revenue gains of 2.3% fell about $70 million short of the consensus forecast among those following the coffee chain. Similarly, the 40% plunge in adjusted earnings was fully $0.07 per share worse than most had anticipated.A look beyond the headline numbers showed other concerns. Global comparable sales were down 1%, as a 2% drop in the number of transactions outweighed a 1% rise in the average consumer's ticket. The 4% drop in North American transaction counts led to a similar 1% fall in North American comps. International comps were a bright spot, rising 2% on a 3% rise in transaction counts, but China's comps were flat.Continue reading
Here's our initial take on Starbucks' (NASDAQ: SBUX) fiscal second-quarter financial report.
Starbucks' fiscal second-quarter report for the period ended March 30 didn't give investors everything they had hoped to see. Overall revenue gains of 2.3% fell about $70 million short of the consensus forecast among those following the coffee chain. Similarly, the 40% plunge in adjusted earnings was fully $0.07 per share worse than most had anticipated.
A look beyond the headline numbers showed other concerns. Global comparable sales were down 1%, as a 2% drop in the number of transactions outweighed a 1% rise in the average consumer's ticket. The 4% drop in North American transaction counts led to a similar 1% fall in North American comps. International comps were a bright spot, rising 2% on a 3% rise in transaction counts, but China's comps were flat.
