Friday March 15, 2024, 11:13:59
By Mark Kalinowski
Recently, Starbucks noted that it faced multiple challenges in its fiscal Q1 2024 (calendar Q4 2023). These challenges include: (1) the effect on Starbucks’ sales trends in the Middle East due to some people’s attitudes regarding Israel and its self-defense following it being attached on October 7th, (2) trying to normalize sales trends from Starbucks’ more occasional customer in the U.S. (some of which may reflect some of those customers’ attitudes about Israel), and (3) a generally more cautious consumer environment in China (which has led to greater promotional activity).
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Tuesday January 30, 2024, 19:28:57
By Mark Kalinowski
After today’s (Tuesday’s) market close, Starbucks reported fiscal Q1 2024 (calendar Q4 2023) adjusted EPS of $0.90, matching our $0.90 forecast, but falling short of sell-side consensus (according to Consensus Metrix) of $0.94.
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Monday January 29, 2024, 07:00:00
By Mark Kalinowski
We believe that January has proven a tough month as regards same-store sales for a wide swath of the restaurant industry. Based on our conversations with industry contacts, bad weather – lapping a mild winter from one year ago – clearly seems to be the #1 reason behind the challenged January sales trends. As of today, it’s possible that February could prove to be similarly challenged.
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