Starbucks Corp (XBUL:SRB)

лв 85.1 0 (0%) Market Cap: 199.44 Bil Enterprise Value: 241.90 Bil PE Ratio: 27.87 PB Ratio: 0 GF Score: 93/100

Q3 2024 Starbucks Corp Earnings Call Transcript

Jul 30, 2024 / 09:00 PM GMT

Release Date Price: лв66.94

Transcript 10-Q8-K

Key Points

Positve

Starbucks Corp (SBUX) reported a total company revenue of $9.1 billion for Q3, up 1% year over year and 6% over Q2.
The company saw strong performance in Japan, with double-digit growth driven by innovation and strong execution.
Starbucks Rewards membership grew to 33.8 million in the U.S. and 22 million in China, indicating strong customer loyalty.
Operational improvements, such as the introduction of the Siren System, have led to significant efficiency gains and reduced partner turnover.
The company is ahead of its efficiency goals, achieving over 200 basis points of year-over-year efficiency gains, contributing to cost savings and margin improvements.

Negative

Global comparable store sales declined by 3% year over year, with a 2% decline in North America and a 14% decline in China.
Operating margins contracted by 70 basis points to 16.7%, primarily due to increased promotional activity and investments in store partner wages and benefits.
The company is facing a challenging consumer environment, particularly in China, where cautious consumer spending and intensified competition have impacted results.
Non-Starbucks Rewards customers in the U.S. showed a significant decline in transactions, contributing to a 6% overall decline in U.S. traffic.
Despite strong product launches, the company is still navigating through a value-driven consumer environment, which has impacted overall sales performance.

Refinitiv StreetEvents Event Transcript
P R E L I M I N A R Y V E R S I O N

SBUX.OQ - Starbucks Corp
Q3 2024 Starbucks Corp Earnings Call
Jul 30, 2024 / 09:00PM GMT

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Conference Call Participants
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* >>Tiffany Willis - Vice President of Investor Relations
* >>Laxman Narasimhan - Chief Executive Officer
* >>Rachel Ruggeri - Executive Vice President and Chief Financial Officer
* >>Brian Harbour - Analyst
* >>Sara Senatore - Analyst
* >>Jeffrey Bernstein - Analyst
* >>Peter Saleh - Managing Director
* >>John Tower - Analyst
* >>David Tarantino - Analyst
* >>Sharon Zackfia - Analyst
* >>Christine Cho - Analyst

=====================
Presentation
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>>Editor [1]
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Please stand by for streaming text.

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