SBUX (Post-Call) S’More Traffic Gains Than Expected…Refreshing
By Mark Kalinowski
Published on July 25, 2019 at 12:00 AM
After Thursday’s market close, Starbucks (SBUX; Buy) reported adjusted fiscal Q3 EPS of $0.78, surpassing our $0.73 forecast and sell-side consensus (according to Consensus Metrix) of $0.72. We attribute the earnings outperformance largely to better-than-expected same-store sales gains in the U.S. and in international markets.