Starbucks Corp. (SBUX) missed revenue expectations with its fiscal third-quarter results, driven in part by a decline in same-store sales.
Starbucks Corp. on Tuesday reported quarterly sales that were worse than expected, as it deals with greater consumer caution, but it said efforts to make the coffee chain more efficient had helped retain costs as it tries to win back business.
Starbucks SBUX 0.98%increase; green up pointing triangle said weaker sales continue to challenge its business, but executives said early turnaround efforts are starting to bear fruit.
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Starbucks Corporation SBUX will release its third quarter financial results, after the closing bell on Tuesday, July 30.
Shares of Starbucks are down more than 20% so far in 2024. The stock witnessed a brief rebound earlier this month when news broke about activist investor Elliott Management taking a stake in the company.
[Note: Starbucks' fiscal year 2023 ended October 1]
A major activist investor just took a stake in the coffee giant. Could positive changes be on the way?
Howard Schultz, who has been Starbucks's (NASDAQ: SBUX) on-again, off-again CEO, has attacked current management about its possible settlement with an activist investor.
Starbucks (SBUX) reports fiscal third-quarter earnings after the bell Tuesday, with analysts expecting a quarterly performance roughly in line with the same quarter a year ago.
Starbucks' (SBUX) third-quarter fiscal 2024 performance is likely to have been hurt by slower-than-anticipated recovery in China.
Activist investor Paul Singer and his firm have taken a large stake in Starbucks, according to reports. The giant coffee chain has been struggling, and Singer has begun pushing for changes.