Recently, Zacks.com users have been paying close attention to Starbucks (SBUX). This makes it worthwhile to examine what the stock has in store.
U.S. stocks settled higher on Friday, with the Dow Jones and S&P 500 surging to fresh highs during the shortened trading session. The Dow gained 1.4% last week, while the S&P 500 gained 1.1% on the week.
In the battle of coffee shop stocks, Dutch Bros (BROS 1.09%) looks like it will be the clear winner in 2024, as the company has greatly outperformed its larger rival Starbucks (SBUX 0.94%) this year. The stock is up more than 70% in 2024 versus about a 6.7% gain for Starbucks.
Starbucks (SBUX) reported earnings 30 days ago. What's next for the stock?
24/7 Wall St. Insights Starbucks Corp. (NASDAQ: SBUX) just rewarded its shareholders with a quarterly dividend hike.
The world's last Cold War frontier now has a Starbucks cafe in South Korea where customers can get a glimpse through the heavily militarised border into the North, all while sipping a latte.
Coffee-related stocks were mixed as coffee prices were wafted to their highest since the 1970s on supply worries. Coffee pod maker Keurig Dr Pepper Inc (NASDAQ:KDP) shares fell 1% but Nestle S.A.
Many of the coffee chain's corporate workers will only be paid 60% of their overall bonuses, according to a report.
Dutch Bros exhibits strong growth with a 15% increase in footprint and resilient comparable sales, outperforming competitors like Starbucks by emphasizing community and barista-guest connections. The chain's strategic innovations, including Dutch Rewards and mobile ordering, have significantly boosted sales and customer engagement, with 67% of transactions indexed to Dutch Rewards. Dutch Bros plans to expand rapidly, with 160 new stores expected in FY 2025, leveraging high AUVs and efficient cost management to maintain profitability.
CNBC's Andrew Ross Sorkin reports on the latest news.
SBUX faces near-term challenges, including declining traffic across channels, and weak comparable sales in key markets like the United States and China.
Starbucks' payment and scheduling system has been hit with a ransomware attack. The coffee company issued guidance for workers about how to handle pay disruptions caused by the outage.