Starbucks earnings beat, raises forecast as customers spend more per visit

Österreich Nachrichten Nachrichten

Österreich Neuesten Nachrichten,Österreich Schlagzeilen
  • 📰 CNBC
  • ⏱ Reading Time:
  • 56 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 72%

Starbucks CEO Kevin Johnson cites an 'enhanced in-store experience,' drinks like cold brew and the cloud macchiato, and growth in China as reasons for the company's great quarter.

Starbucks on Thursday reported earnings that outpaced analyst expectations and raised its outlook for the year, as customers spent more at its cafes in the U.S. and sales growth in China was stronger than expected."We are especially pleased with our comparable store sales growth in our two lead markets, the U.S. and China, where we are also continuing to drive strong new store development with industry-leading returns," CEO Kevin Johnson said in a statement.

Excluding the sale of its Tazo brand, costs related to its licensing deal with Nestle and other items, Starbucks earned 60 cents per share, topping the 56 cents per share expected by analysts surveyed by Refinitiv. Starbucks released one of those pricier drinks last month, the Cloud Macchiato, with help from pop star Ariana Grande. Johnson called the drink's launch"the second most viral Starbucks campaign ever." The beverage is part of its wider drink innovation strategy: focus more on cold drinks and less on limited-time offerings and Frappucinos. The strategy is meant to build more brand affinity to keep customers coming back to Starbucks' coffee shops regularly.

"This performance is especially noteworthy when you consider the intensity of competition from discounting in China, as well as our aggressive pace of new store development," Johnson said. In the second quarter, Starbucks Rewards reached 8.3 million active Chinese members. Executives said on the conference call that loyalty program members represent over 50% of its transactions in China.

Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

CNBC /  🏆 12. in US

Österreich Neuesten Nachrichten, Österreich Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Starbucks CEO calls Chinese rivals' use of discounts unsustainable as Luckin Coffee prepares for IPOStarbucks CEO calls Chinese rivals' use of discounts unsustainable as Luckin Coffee prepares for IPOStarbucks is facing increased competition in China, particularly from upstart Luckin Coffee, but CEO Kevin Johnson remains optimistic about its long-term success.
Weiterlesen »

Disney, Starbucks and 11 other companies that pay their CEO 1,000 times as much as a typical employeeDisney, Starbucks and 11 other companies that pay their CEO 1,000 times as much as a typical employeeDisney, Starbucks and 11 other companies that pay their CEO 1,000 times as much as a typical employee via CNBCMakeIt
Weiterlesen »

Jeff Bezos' 'two pizza rule' can help you hold more productive meetingsJeff Bezos' 'two pizza rule' can help you hold more productive meetingsJeff Bezos has a 'two pizza rule' that helps him to banish unnecessary gatherings from his schedule. via CNBCMakeIt
Weiterlesen »

What the future holds for Taco Bell after ex-CEO Brian Niccol defected to ChipotleWhat the future holds for Taco Bell after ex-CEO Brian Niccol defected to ChipotleWith more than 6,500 locations across the country, Taco Bell is one of the top fast-food chains in the U.S. But turnover in top management could mean trouble for the company in the years ahead.
Weiterlesen »

Most of Twitter CEO Jack Dorsey’s intense wellness habits actually make senseMost of Twitter CEO Jack Dorsey’s intense wellness habits actually make senseHealth experts support the meditation, sleep tracking and exercise practices — but worry about his fasting.
Weiterlesen »

Boeing CEO Dennis Muilenburg Faces Mounting Pressure From 737 MAX CrashesBoeing CEO Dennis Muilenburg Faces Mounting Pressure From 737 MAX CrashesThe high-energy CEO may need every ounce of energy he’s got as he grapples with one of Boeing’s worst crises ever.
Weiterlesen »

Complex Networks lost about $150 million in funding after Go90's demise. Here's how it bounced back.Complex Networks lost about $150 million in funding after Go90's demise. Here's how it bounced back.Complex CEO Rich Antoniello describes how the company survived the Go90 debacle.
Weiterlesen »

Kraft Heinz CEO Bernardo Hees to step down, will be replaced by AB InBev's Miguel PatricioKraft Heinz CEO Bernardo Hees to step down, will be replaced by AB InBev's Miguel PatricioBernardo Hees leaves at a critical time for Kraft Heinz, which is battling the slow-growing food industry and analysts questioning the business model.
Weiterlesen »



Render Time: 2025-03-28 06:50:54