News Formal

Here's what to expect from Starbucks earnings

  • 📰 CNBC
  • ⏱ Reading Time:
  • 50 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 72%

United States News News

United States United States Latest News,United States United States Headlines

The coronavirus pandemic led Starbucks to lose as much as $3.2 billion in sales during the quarter, according to its internal estimates.

Starbucks said in June that it expected adjusted losses per share of 55 cents to 70 cents.New store openings have resumed in China and the Americas.

People wear protective face masks outside Starbucks in midtown as the city moves into Phase 2 of re-opening following restrictions imposed to curb the coronavirus pandemic on June 23, 2020 in New York City.is expected to report its fiscal third-quarter earnings after the bell Tuesday.

Starbucks said at the time that its fiscal fourth-quarter earnings will improve, predicting net income per share of 11 cents to 36 cents and adjusted earnings per share of 15 cents to 40 cents. ButFor the full fiscal year, the company expects same-store sales in its two largest markets — the United States and China — to decline 10% to 20%. It forecast flat same-store sales growth in China by the end of the fiscal fourth quarter and predicts U.S. same-store sales will remain negative.

New store openings have resumed in China and the Americas. Starbucks expects to open about 300 net new locations in fiscal 2020 in the segment, down from its prior estimate of 600.VIDEO

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Expect a horrible loss and hope they are confident in adjusting the future losses lower

$SBUX has been a great performer for us in the past but going into earnings it is still below the cloud - and therefore in sell. fintwit wallstreet

I bet they're down in Portland.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Starbucks Reports Earnings Tomorrow. Here’s What to Expect.The report comes after the close of trading. Investors will be looking for hopeful signs from the coffee giant, which has been hit hard by the coronavirus...
Source: MarketWatch - 🏆 3. / 97 Read more »

Here's what to expect from McDonald's earningsShares of McDonald's, which has a market value of $155 billion, have risen 1.8% so far this year. Even McDonald's is overvalued with a Price-to-Earnings ratio over 26.
Source: CNBC - 🏆 12. / 72 Read more »

U.S. stock futures flat ahead of major earnings3M, McDonald's Pfizer, JetBlue and Raytheon Technologies all report earnings before the opening bell on Tuesday. I know you want to be the first to post, but give it more than 5 mins? A major bumpy road ahead
Source: CNBC - 🏆 12. / 72 Read more »