Starbucks Stock Stumbles After Company Reports Weak Preliminary Results, Suspends Guidance
Portfolio Pulse from Adam Eckert
Starbucks reported weak preliminary Q4 results, with a 3% decline in net revenues and a 7% drop in global comparable sales. The company suspended its guidance for fiscal year 2025 due to a CEO transition and current business challenges. Starbucks shares fell 3.57% in after-hours trading.
October 22, 2024 | 9:17 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Starbucks reported a 3% decline in net revenues and a 7% drop in global comparable sales for Q4. The company suspended its FY2025 guidance due to a CEO transition and business challenges. Shares fell 3.57% after-hours.
Starbucks' weak preliminary Q4 results, including a decline in net revenues and global comparable sales, along with the suspension of FY2025 guidance, indicate significant short-term challenges. The market reacted negatively, with shares dropping 3.57% after-hours. The CEO transition adds uncertainty, impacting investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100