The coffee giant has seen traffic to its cafes fall as its rivals in China lean into discounting and some U.S. consumers boycott its drinks.A store of Starbucks Coffee shop chain located in Amsterdam city center with people sitting inside, enjoying a coffee after shopping in the cafe, while others are walking by., many analysts aren't expecting dramatic improvement in demand until the second half of the fiscal year.
Starbucks has said that those issues are transitory, and it expects sales to rebound. It's been leaning heavily into advertising and promoting its new seasonal drinks, like a line of Spicy Lemonade Refreshers. For fiscal 2024, the company anticipates revenue growth of 7% to 10% and global same-store sales growth in a range of 4% to 6%. The company is also expecting earnings per share growth of 15% to 20%.