Starbucks Get To Brag About Its China Growth But Not Its Overall Sales
Portfolio Pulse from Upwallstreet
Starbucks Corporation (NASDAQ:SBUX) reported mixed Q3 earnings, with sales growth in China being a highlight. The company made $9.17 billion in revenue, a 12% increase but below Refinitiv’s consensus estimate of $9.29 billion. Net income was $1.41 billion, or 99 cents per share, up from $912.9 million, or 79 cents per share, in the same quarter last year. However, same-store sales in North America and international markets were weaker than expected. Starbucks' international growth was largely driven by China, where same-store sales increased by 46%. The company reaffirmed its fiscal 2023 outlook, projecting revenue growth of 10% to 12%.
August 04, 2023 | 11:31 am
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Starbucks reported mixed Q3 earnings, with strong sales growth in China but weaker than expected same-store sales in North America and international markets. The company reaffirmed its fiscal 2023 outlook.
While Starbucks reported strong sales growth in China, weaker than expected same-store sales in North America and international markets could negatively impact investor sentiment. However, the company's reaffirmed fiscal 2023 outlook may provide some reassurance to investors.
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IMPORTANCE 80
RELEVANCE 100
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Unlike Starbucks, McDonald's reported strong same-store U.S. sales growth of 10.3% and double-digit growth for same-store sales across all three of its divisions.
McDonald's strong same-store U.S. sales growth and double-digit growth for same-store sales across all three of its divisions could positively impact investor sentiment and the company's stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50