Thursday September 19, 2024, 07:00:00
SBUX: Adjusting Our Estimates (9/19/2024)
U.S. restaurant industry same-store sales remain on track in 2024 to have their weakest year since 2016 (excluding pandemic-hit 2020). Be on the lookout for our updated Kalinowski Restaurant Industry Index, which aggregates the same-store sales for the industry based on each components’ full-year 2023 domestic systemwide sales. Unfortunately for the industry, it looks as if the Q3 2023 index number will be similar to the weak results of Q1 2023 and Q2 2023.