In the booming local coffee shop market, it is the big Chinese chains that are growing the most.It has been confirmed by figures for 2023, which mark the leadership in China of Luckin Coffee, which has overtaken Starbucks for the first time in sales, as well as in the number of its ow...
In fiscal year 2023, the company's consolidated net revenues rose 12%, reaching a record $36 billion, even as Starbucksfaced boycottsthat hurt its its business in the Middle East and the U.S.5The company also reported an 8% increase in global store sales for 2023. In August 2024, Star...
According to market research firm Mintel's estimates, total sales of on-premises coffee are expected to reach 74.1 billion yuan in 2023, up 29.5% year-on-year, and will continue growing with a compound annual growth rate (CAGR) of 24.5% over 2023-28. Much of this demand is driven by t...
The company recently announced the appointment of Laxman Narasimhan as its new CEO, who will succeed interim CEO Howard Schultz in April 2023. Starbucks’ Improved Financial Outlook Starbucks now expects adjusted EPS growth in the range of 15% to 20% per year in Fiscal 2023-2025, ...
NEWS RELEASE Starbucks Reports Q4 and Full Year Fiscal 2023 Results 11/2/2023 Q4 Consolidated Net Revenues Up 11% to a Record $9.4 Billion Q4 Comparable Store Sales Up 8% Globally; Up 8% in North America; Up 5% in International Q4 GAAP EPS $1.06; Non-GAAP EPS $1.06 Driven by Strong...
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Starbucks reported net revenue dropped 2% year-over-year (YoY) to $8.56 billion in the fiscal second quarter ended March 31, 2024, missing the analysts’ projected $9.13 billion. Earnings per share (EPS) plunged 13.9% YoY to $0.68, compared Wall Street estimates of $0.79. Net income attrib...
Starbucks Revenue Per Store Starbucks generated over $945K per store in 2023, compared to $900K per store in 2022, $858K in 2021, and $720K in 2020. Starbucks Revenue By Product Starbucks made 60% of its revenue, in 2023, from beverages, followed by other revenue, which accounted for...
In fiscal year 2024, Starbucks in China experienced an 8% decline in comparable store sales, driven by an 8% decrease in average ticket. This means that Chinese people spent less per visit. The decline can be attributed to the growing competition from brands like Luckin Coffee as well as a...
missing the analysts’ projected $9.13 billion. Earnings per share (EPS) plunged 13.9% YoY to $0.68, compared Wall Street estimates of $0.79. Net income attributable to the company tumbled nearly 15% to $772.4 million. The same-store sales surprisingly fell for the first time since 2020 with...