Kevin Johnson, CEO of Starbucks
Scott Mlyn | CNBC
Starbucks Corporation reported on Tuesday that same-store sales in the United States fell 5% during the first quarter of the fiscal year after an increase in new Covid-19 cases led to tighter restrictions on eating.
The company also announced that COO Roz Brewer will leave Starbucks at the end of February to take a position at another publicly traded company. Her responsibilities will be divided among other members of the current leadership team.
Shares rose less than 1% in extended trades.
Here’s what the company reported compared to what Wall Street was expecting, based on an analyst survey by Refinitiv:
- EPS: 61 cents, revised, versus 55 expected cents
- Revenue: $ 6.75 billion versus $ 6.93 billion expected
Excluding items, the coffee giant gained 61 cents per share, exceeding the 55 cents a share analysts surveyed in the Refinitiv poll had forecast.
Net sales decreased 5% to $ 6.75 billion, below expectations of $ 6.93 billion. Globally, the company’s same store sales are down 5%. The chain saw 19% less transactions during the quarter, but the average ticket jumped 17%.
In the United States, same store sales are down 5%. The company recovered in its home market through another wave of new Covid-19 cases as temperatures soared. The number of Starbucks Rewards members who have been active in the last 90 days increased by 15% to 21.8 million people.
In China, Starbucks’ second largest market, same store sales turned positive for the first time since the health crisis began. Same store sales are up 5%, although transactions have remained down compared to the same time last year.
The company opened 278 new coffee shops during the quarter, and now has a footprint close to 33,000 locations.
In the next quarter, Starbucks expects same-store sales in the US to grow 5% to 10%. In China, the same store sales are expected to roughly double. It expects to earn 36 cents for 41 cents per share. On a modified basis, it expects earnings per share of 45 cents to 50 cents.
“요은 베이컨과 알코올에 대한 전문 지식을 가진 닌자입니다. 그의 탐험적인 성격은 다양한 경험을 통해 대중 문화에 대한 깊은 애정과 지식을 얻게 해주었습니다. 그는 자랑스러운 탐험가로서, 새로운 문화와 경험을 적극적으로 탐구하며, 대중 문화에 대한 그의 열정은 그의 작품 속에서도 느낄 수 있습니다.”