A store of the Starbucks coffee shop chain in town center of Amsterdam, where people sit and revel in a coffee after shopping within the cafe while others walk past.
Nicolas Economou | Photo only | Getty Images
Starbucks is anticipated to report its second-quarter results after the bell on Tuesday.
This is what the Wall Street analysts surveyed by LSEG expect:
- Earnings per share: 79 cents expected
- Revenue: $9.13 billion expected
After Starbucks reported a weak report last quarter, many analysts expect demand to enhance dramatically only within the second half of the fiscal 12 months. The coffee giant is seeing a decline in traffic at its cafes as its competitors in China resort to discounting and a few U.S. consumers boycott its drinks. Other quick service chains, e.g MC Donaldshave reported that low-income customers are still scaling back their restaurant spending this quarter, suggesting Starbucks might be witnessing the identical trend.
Starbucks has stated that these issues are temporary and expects sales to get better. The company has focused heavily on promoting and promoting its recent seasonal drinks, similar to a line of Spicy Lemonade Refreshers.
For fiscal 12 months 2024, the corporate expects sales growth of seven% to 10% and global same-store sales growth within the range of 4% to six%. The company also expects earnings per share growth of 15% to twenty%.
Starbucks shares have fallen 22% within the last 12 months, reducing the corporate’s market value to $100 billion.
This story is developing. Please check back for updates.
