Starbucks Revenue Falls as Same-Store Sales Decline

Starbucks Corp. (SBUX) missed gross expectations pinch its fiscal third-quarter results, driven successful portion by a diminution successful same-store sales.

The java titan reported gross of $9.1 billion, down 1% year-over-year and beneath analysts’ expectations of $9.22 billion, per Visible Alpha. Earnings per stock (EPS) came successful astatine 93 cents, down from a twelvemonth earlier but successful statement pinch expectations. 

Global same-store income fell 3%, arsenic a 5% alteration successful comparable transactions partially offset a 2% summation successful mean summons value. In China, same-store income fell 14%. 

Shares of Starbucks added much than 2% aft nan doorbell Tuesday but are still down complete 20% successful 2024 aft nan company’s fiscal-second 4th results sent shares plunging successful May.

“Our ratio efforts, which are search up of expectations, partially offset investments associated pinch nan cautious user environment,” Chief Financial Officer Rachel Ruggeri said.

In November, Starbucks announced a “triple changeable reinvention” that it said would make $3 cardinal successful savings complete 3 years.