Starbucks said its same-store sales fell 4%, fueled by a 6% decline in visits to its stores.Starbucks said its same-store sales fell 4%, fueled by a 6% decline in visits to its stores.
Here’s what Wall Street analysts surveyed by LSEG are expecting the company to report:
- Earnings per share: 67 cents expected
- Revenue: $9.31 billion expected
Wall Street is expecting the coffee giant to report its fourth consecutive quarter of same-store sales declines. Consumers in the U.S. and China, its two largest markets, have been visiting its cafes less frequently and often opting to get their caffeine fix elsewhere.
In September, former Chipotle CEO Brian Niccol joined the company as its latest chief executive. On the company’s last earnings call, Niccol shared some early steps he is taking to turn around the business and bring it “back to Starbucks.” The changes range from cosmetic tweaks such as bringing back the condiment bar to more intense revisions such as overhauling its menu and improving its speed of service per order to under four minutes.
Analysts are not expecting Niccol to change the coffee chain overnight, but they are predicting that sales have improved slightly compared with the prior quarter. Wall Street is anticipating the company will report same-store sales declines of 5.5%, compared with last quarter’s declines of 7%, according to StreetAccount estimates.
In October, Starbucks suspended its forecast for fiscal 2025, citing the turnaround efforts.
Shares of Starbucks have risen 7% over the past year, bringing its market cap up to $113.5 billion.
