Starbucks

Starbucks Corporation (NASDAQ:SBUX) plans to operate 1,000 stores in India by 2028, or one new store opening every three days, doubling employment. The strategy, which JV Tata Starbucks Private Limited will manifest, focuses on skilling local partners for jobs and promoting Indian-origin coffee to Starbucks customers worldwide. The company said in a statement that India’s strategic importance as one of Starbucks’ fastest-growing markets globally will see Starbucks doubling down on its presence in the market. Tata Starbucks now operates over 390 stores across 54 Indian cities, with approximately 4,300 employees. The company will also double its workforce to approximately 8,600 partners as it plans to enter Tier 2 and 3 Indian cities, expand drive-thrus, airports, and its 24-hour store footprint to serve customers. Recently, the coffee chain giant’s values and beliefs were under the microscope after Starbucks Workers United and its local branches, representing various U.S. stores of the chain, posted […]

Starbucks greenlights customers to use their personal reusable cups for orders at locations across the U.S. and Canada, part of its effort to reduce waste by 2030. The coffee chain’s only stipulation is that the cups must be clean. Customers at participating locations will save 10 cents on their beverage, among other benefits. In addition to cutting down on waste and costs, Starbucks could see a boost in brand loyalty and sales as customers may be more incentivized to purchase the company’s reusable cups and tumblers.

Starbucks (NASDAQ:SBUX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/20/2023 10.14% HSBC → $107 Initiates Coverage On → Hold 11/06/2023 9.11% Wedbush $100 → $106 Maintains Neutral 10/23/2023 19.4% Barclays $123 → $116 Maintains Overweight 10/19/2023 21.46% Deutsche Bank → $118 Initiates Coverage On → Buy 10/12/2023 2.93% UBS $110 → $100 Maintains Neutral 10/11/2023 4.99% Morgan Stanley $104 → $102 Maintains Equal-Weight 10/05/2023 2.93% Citigroup $104 → $100 Maintains Neutral 09/25/2023 7.05% Citigroup $112 → $104 Maintains Neutral 09/22/2023 10.14% TD Cowen → $107 Reiterates Market Perform → Market Perform 09/20/2023 10.14% TD Cowen → $107 Reiterates Market Perform → Market Perform 09/19/2023 10.14% TD Cowen $117 → $107 Downgrades Outperform → Market Perform 08/02/2023 13.23% Stifel $117 → $110 Maintains Hold 08/02/2023 7.05% Morgan Stanley $104 → $104 Reiterates Equal-Weight → Equal-Weight 08/02/2023 26.61% Barclays $127 → $123 Maintains

Starbucks’ (SBUX) shares rose 10% in recent Thursday trading after the company reported fiscal Q4 non-GAAP earnings of $1.06 per share, up from $0.81 a year earlier. Analysts polled by Capital IQ expected $0.97. Net revenue in the quarter ended Oct. 1 was $9.37 billion, up from $8.41 billion a year earlier. Analysts surveyed by Capital IQ expected $9.28 billion. Comparable-store sales rose 8% worldwide, the company said. Analysts polled by Capital IQ expected 7% growth.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We trim our 12-month target price to $107 from $110, 26.4x our FY 24 (Sep.) EPS, a discount to SBUX’s five-year average forward P/E of 31.2x. We raise our FY 24 EPS to $4.06 from $4.00 and we initiate FY 25 at $4.63. SBUX posted FQ4 (Sep.) EPS of $1.06, $0.09 above consensus. Revenue of $9,374M (+11.4% Y/Y) was $93M above consensus. Operating income grew 34.1% Y/Y to $1,707M, with margin expanding 310 bps Y/Y to 18.2% vs. the 17.3% consensus. SBUX exceeded expectations, with comp sales up 8% vs. the 7% consensus, on top of transaction growth across all major regions, including China. Despite SBUX’s clean beat, FY 24 EPS guidance was left unchanged and FY 24 comp sales guidance was revised down (mid-point at +6%

Starbucks says in an investor update that it aims to grow to 20,000 US stores in the long term, up from about 16,350 today. The coffee chain reaffirmed previous targets to grow to 55,000 global stores by 2030. It aims to build more stores for specific means of ordering, such as delivery or pickup. The chain says it also aims to find $3 billion in cost savings, with $2 billion of it coming in its supply chain. Starbucks closed up 9.5% after it reported 4Q earnings this morning that exceeded expectations.

‘To be clear, Starbucks has not saturated the U.S. market,’ executive says Starbucks’ abundance of stores stopped being a punchline years ago. But the coffee chain on Thursday said there was, somehow, still room for even more of them. Starbucks Corp. (SBUX) on Thursday said it wants to have 55,000 stores around the world by 2030, with plans to open new kinds of stores in the U.S. dedicated to pick-up and drive-through. The chain currently has a little more than 38,000 stores globally. Those plans were announced as part of a broader initiative for the years ahead that included targets for $3 billion in savings, another 75 million rewards members and a bump in worker hours, wages and other incentives. More Starbucks customers are doing more business via its app — for cold beverages, food and to-go orders. But the company has faced questions about demand, amid higher prices for

Starbucks Q4 Adj. EPS $1.06; FactSet Consensus 97 Cents.

Starbucks Executive Said Fall Season Launch Led To Record-breaking Average Weekly Sales; 90-day Active Rewards Members Reached Record Of Nearly 33M In Q4; Set Records In Spend Per Member, Total Member Spend -Conf Call.

Starbucks Executive Said China’s Average Weekly Sales Grew Quarter Over Quarter In Line With Our Guidance Of Low To Mid Single Digit Growth -Conf Call。

Starbucks Executive Said We Expect Fiscal Year 2024 Global Comp Growth To Be 5% To 7% -Conf Call。

Starbucks Executive Said China FY2024 Comp Sales Expected To Be In The Range Of 4% To 6% In Q2 Through Q4 -Conf Call。