Starbucks misses revenue forecasts as international sales weaken

Summarised from 2 outlets · Updated 29 Oct, 21:09 · Archive

Starbucks reported lower than expected revenue in its fiscal fourth quarter as international customer traffic declined.

Starbucks reported lower than expected revenue in its fiscal fourth quarter ending in September, with net revenue falling 4% to $9.14 billion against analyst forecasts of $9.2 billion.

Global same-store sales rose 7.2%, exceeding Wall Street expectations of 6% growth. Strong demand in the United States drove the result, with U.S. same-store sales jumping 7.7%. By contrast, international same-store sales rose less than 1%, with international store traffic declining 2.8%.

The Seattle coffee company attributed the softer international performance to weakening customer traffic overseas, offsetting the gains from its home market. The mixed results highlight diverging demand patterns between the company's U.S. operations and its international business.

How it is being reported

• Starbucks reports lower than expected revenue on softer international demandStarbucks reported lower than expected revenue in its fiscal fourth quarter as international traffic softened.Clickorlando · 29 Oct, 20:30
• Starbucks reports lower than expected revenue on softer international demandStarbucks reported lower than expected revenue in its fiscal fourth quarter as international traffic softened.News4Jax · 29 Oct, 20:30

In this story: Starbucks · Seattle · United States · Wall Street

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