Starbucks Executive Said China FY2024 Comp Sales Expected To Be In The Range Of 4% To 6% In Q2 Through Q4 -Conf Call
Portfolio Pulse from Charles Gross
During a conference call, a Starbucks executive stated that the company expects its comparable sales in China to be in the range of 4% to 6% for Q2 through Q4 of FY2024.
November 02, 2023 | 11:55 am
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POSITIVE IMPACT
Starbucks' forecasted growth in China may impact the iShares China Large-Cap ETF (FXI), which includes Starbucks among its holdings.
As Starbucks is part of the iShares China Large-Cap ETF (FXI), the company's performance can impact the ETF's value. The positive sales forecast in China could potentially lead to a short-term increase in the ETF's price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Starbucks expects its comparable sales in China to grow between 4% and 6% in Q2 through Q4 of FY2024.
The forecasted growth in comparable sales in China, a significant market for Starbucks, is a positive signal for the company's performance. This could potentially lead to an increase in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100