Starbucks (SBUX) Q4 2024 earnings

Brian Niccol speaking on CNBC’s Squawk Box on Oct. 30th, 2018. 

Anjali Sundaram | CNBC

Starbucks is set to share more details about its fiscal fourth quarter after the bell on Wednesday.

The coffee giant shared its preliminary quarterly results on Oct. 22, showing that its sales fell for the third consecutive quarter.

Here’s what Wall Street analysts surveyed by LSEG are expecting the company to report:

  • Earnings per share: $1.03 expected
  • Revenue: $9.38 billion expected

This earnings report marks CEO Brian Niccol‘s first since joining the company in September to turn around the business.

Investors will be expecting to hear more details about Niccol’s strategy. He has previously said that he plans to focus on reviving U.S. sales first and to take the brand “back to Starbucks.” When the coffee chain released the preliminary report, Niccol said in prepared remarks that the company will simplify its menus, fix its pricing and make sure all drinks are handed to customers.

According to the preliminary report, Starbucks’ sales fell 3% in its latest quarter, and its same-store sales declined 7%, the company’s steepest drop since the Covid-19 pandemic. North American same-store sales shrank 6%, while same-store sales in China tumbled 14%. The company reported preliminary adjusted earnings per share of 80 cents.

Starbucks suspended its outlook for fiscal 2025, citing the CEO transition and its recent dismal performance.

Shares of Starbucks have risen 1% this year, outstripped by the S&P 500’s gains of 22%. The company has a market cap of $111 billion.

Don’t miss these insights from CNBC PRO

Spread the love

Aniket Pujari

Aniket Pujari is a visionary entrepreneur and dedicated content creator who has made significant contributions to the digital media landscape. As the founder of Minute To Know News, he has established himself as a leading figure in the world of finance, cryptocurrencies, and Internet-related topics.

Related Posts

Amazon launches fixed pricing to treat hair loss, erectile dysfunction

A worker delivers Amazon packages in San Francisco on Oct. 24, 2024. David Paul Morris | Bloomberg | Getty Images Amazon on Thursday announced Prime members can access new fixed…

Spread the love

The Onion wins Alex Jones’ Infowars in bankruptcy auction

The Onion, the satirical news company that repeatedly spoofed conspiracy theorist Alex Jones, has won the bankruptcy auction for control over his media empire — most notably InfoWars, the far-right, conspiracy-minded website…

Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *

You Missed

Narayana Murthy says PM Modi should see if India needs more managers than administrators in govt

Narayana Murthy says PM Modi should see if India needs more managers than administrators in govt

India third most improving market in business climate, says IU

India third most improving market in business climate, says IU

Elon Musk becomes ‘First Buddy’, gets ‘uncle’ status in Donald Trump’s family

Elon Musk becomes ‘First Buddy’, gets ‘uncle’ status in Donald Trump’s family

Crypto whales eye PEPE at $2, but experts predict WallitIQ will hit $15 by 2024’s end

Crypto whales eye PEPE at $2, but experts predict WallitIQ will hit $15 by 2024’s end

Reliance Infrastructure Q2 Results: Anil Ambani-led infra major posts net profit of ₹4,082.5 crore on low expenses

Reliance Infrastructure Q2 Results: Anil Ambani-led infra major posts net profit of ₹4,082.5 crore on low expenses

CMIC urges US Congress to legislate crypto

CMIC urges US Congress to legislate crypto