{"id":120292,"date":"2024-10-31T03:34:48","date_gmt":"2024-10-30T20:34:48","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=120292"},"modified":"2024-10-31T03:34:48","modified_gmt":"2024-10-30T20:34:48","slug":"starbucks-sbux-q4-2024-earnings","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=120292","title":{"rendered":"Starbucks (SBUX) Q4 2024 earnings"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108038916\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Brian Niccol speaking on CNBC&#8217;s Squawk Box on Oct. 30th, 2018.\u00a0<\/p>\n<p>Anjali Sundaram | CNBC<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><a href=\"https:\/\/www.cnbc.com\/quotes\/SBUX\/\">Starbucks<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> on Wednesday <a href=\"https:\/\/www.businesswire.com\/news\/home\/20241030463090\/en\/\" target=\"_blank\" rel=\"noopener\">reported quarterly earnings<\/a> and revenue that missed analysts&#8217; expectations as sales in the U.S. and China, its two biggest markets, disappointed.<\/p>\n<p>The company previously <a href=\"https:\/\/www.cnbc.com\/2024\/10\/22\/starbucks-shares-slide-after-preliminary-results-show-sales-fell-again.html\">released a preliminary report<\/a> of its quarterly results on Oct. 22 and announced it was suspending its fiscal 2025 outlook.\u00a0<\/p>\n<p>This report marks the first under CEO Brian Niccol, who joined the company on Sept. 9 to revive the floundering business.\u00a0<\/p>\n<p>&#8220;It is clear we need to fundamentally change our strategy to win back customers,&#8221; CEO Brian Niccol said in a statement. &#8220;We have a clear plan and are moving quickly to return Starbucks to growth.&#8221;<\/p>\n<p>Investors are expecting that Niccol will share more details about his turnaround strategy during the company&#8217;s conference call, scheduled for 5 p.m. ET.<\/p>\n<p>Shares of the company fell 1% in extended trading on Wednesday.<\/p>\n<p>Here&#8217;s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:<\/p>\n<ul>\n<li><strong>Earnings per share:<\/strong> 80 cents vs. $1.03 expected<\/li>\n<li><strong>Revenue:<\/strong> $9.07 billion vs. $9.36 billion expected<\/li>\n<\/ul>\n<p>Starbucks reported fiscal fourth-quarter net income attributable to the company of $909.3 million, or 80 cents per share, down from $1.22 billion, or $1.06 per share, a year earlier.<\/p>\n<p>Net sales<strong> <\/strong>dropped 3% to $9.07 billion.\u00a0<\/p>\n<p>The company&#8217;s global same-store sales fell 7%, fueled by weak demand in the U.S. and China. Traffic to its stores worldwide fell 8% during the quarter.<\/p>\n<p>The company&#8217;s U.S. restaurants reported same-store sales declines of 6%, fueled by a 10% tumble in traffic.<\/p>\n<p>In China, the company&#8217;s same-store sales plummeted 14% as both traffic and average ticket fell. Starbucks has been facing greater competition from local rivals, like Luckin Coffee, which can undercut the company&#8217;s prices.<\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"RelatedContent-relatedContent\" id=\"RegularArticle-RelatedContent-1\">\n<div class=\"RelatedContent-container\">\n<div class=\"RelatedContent-nonCollapsibleContent\">\n<h2 class=\"RelatedContent-header\">Don\u2019t miss these insights from CNBC PRO<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnbc.com\/2024\/10\/30\/starbucks-sbux-q4-2024-earnings.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brian Niccol speaking on CNBC&#8217;s Squawk Box on Oct. 30th, 2018.\u00a0 Anjali Sundaram | CNBC Starbucks on Wednesday reported quarterly earnings and revenue that missed analysts&#8217; expectations as sales in &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=120292\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-120292","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/120292","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=120292"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/120292\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=120292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=120292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=120292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}