Starbucks Says For Q4 Global Comparable Store Sales Declined 7%, Consolidated Net Revenues Decline 3% To $9.1B, Non-GAAP EPS $0.80
Portfolio Pulse from Benzinga Newsdesk
Starbucks reported a 7% decline in global comparable store sales for Q4, with consolidated net revenues down 3% to $9.1 billion. The non-GAAP EPS was $0.80.
October 22, 2024 | 8:08 pm
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NEGATIVE IMPACT
Starbucks reported a 7% decline in global comparable store sales and a 3% drop in consolidated net revenues for Q4, with non-GAAP EPS at $0.80.
The decline in both sales and revenues suggests weaker performance, which is likely to negatively impact Starbucks' stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Starbucks' weaker-than-expected Q4 results may have a minor impact on SPY, as it is a component of the ETF.
While Starbucks is a component of SPY, the overall impact on the ETF is likely minimal due to its diversified holdings.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 20