|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's range||76.52 - 78.05|
|52-week range||50.02 - 99.72|
|Beta (5Y monthly)||0.80|
|PE ratio (TTM)||27.53|
|Earnings date||28 Jul 2020|
|Forward dividend & yield||1.64 (2.11%)|
|Ex-dividend date||07 May 2020|
|1y target est||79.88|
Brewing up some good news after the entire restaurant industry took a drubbing from COVID-19, Starbucks (NASDAQ: SBUX) published an open letter to its partners today describing its recovery following the possible recent decline in the pandemic's severity. It cites the start of the Transcontinental Railway during the American Civil War, and notes how, during the Cold War, "President John F. Kennedy united the country around a quest to the Moon." Starbucks attempts to strike an upbeat note throughout, in addition to providing some more concrete data.
Starbucks said on Thursday that it’s already seeing a rebound in U.S. customer visits that are "tracking slightly above" the coffee chain's own forecasts.
(Bloomberg Opinion) -- Nasdaq is tightening rules on initial public offerings in an effort that looks to be targeted primarily at Chinese companies. To appreciate just how tepid its proposals are, consider this: They wouldn’t have screened out Luckin Coffee Inc., the most notorious accounting scandal involving a U.S.-listed Chinese issuer in years. On this evidence, IPO hopefuls have little to worry about — as long as they’re not too small.Companies will need to raise at least $25 million, or sell stock equal to a minimum 25% of their post-listing market capitalization, according to a Bloomberg News report that cited Nasdaq filings with the Securities and Exchange Commission. Luckin sold $645 million of shares in its IPO last May. There’s little comfort in this for the would-be Starbucks Corp. challenger: Nasdaq is seeking to delist Luckin after the company acknowledged fabricating sales transactions and fired its chief executive. Its shares, which will resume trading Wednesday, plummeted more than 75% in a single day last month. For other companies, though, the message is that the lure of IPO business still trumps U.S. government pressure to deter the flow of money into Chinese assets.The revised standards aren’t particularly punitive. Only three of 10 Nasdaq IPOs by Chinese issuers in 2020 raised less than $25 million. Last year, 10 of 29 flotations failed to meet the threshold, which is about the price of an upmarket New York townhouse. The requirement to sell at least a quarter of the business may be more painful. Half the companies selling shares this year floated less than 25%.Maybe we shouldn’t be surprised at the low bar. Chinese companies are big business after all, with a combined current market value of $380 billion on Nasdaq. The New York Stock Exchange, meanwhile, has almost $760 billion of Chinese listings — most of that accounted for by internet giant Alibaba Group Holding Ltd.There’s no sign that a rising U.S. climate of hostility to China is deterring IPO candidates. Beijing-based Kingsoft Cloud Holdings Ltd. raised $510 million this month after increasing the size of its float. Dada Nexus Ltd., an operator of crowd-sourced delivery platforms backed by Alibaba rival JD.com Inc., is currently sounding out investors for a $500 million offering. Such sales must come as welcome relief after a deals drought caused by the coronavirus lockdown.A bigger issue in rooting out fraud and malpractice is U.S. regulators’ access to company financial records and audit papers, something that China prevents. Current rules already allow Nasdaq to deny listings of companies from countries with such restrictions. Nasdaq is proposing more stringent criteria, including requiring auditors to show that they have sufficient expertise with international accounting standards in the offices doing the audit. This looks like a Band-Aid.The impression persists of an exchange that was under pressure to do something about Chinese companies — and came up with little more than the bare minimum. Just in case there was any doubt about the U.S. government’s stance, President Donald Trump’s economic adviser Larry Kudlow weighed in Tuesday to say that nobody can invest confidently in Chinese companies and the U.S. needs to protect investors from the country’s lack of transparency and accountability.Problems tend to be concentrated among the smallest and least liquid companies, so it makes sense to target them. Shares of Nasdaq-listed Chinese companies that raised less than $25 million since the start of 2017 are down an average of 60% from their IPO price — compared with a 34% average increase for all Chinese issuers selling shares during the period.(1)No one wants bit players in a world where investors have become increasingly skeptical of unprofitable technology companies. For the rest, America remains open for business — unless you’re Huawei Technologies Inc.\--With assistance from Zhen Hao Toh(1) The percentage figures are averages weighted by deal size.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The coffee chain's results will continue to feel the impact of widespread stay-at-home orders, but improving trends in China demonstrate that the company can get back on track in 2020.
Beyond founder and CEO Ethan Brown talks with Yahoo Finance immediately following the company's latest earnings report.
U.S. stocks are set to open higher Tuesday, as tensions between China and the U.S. appeared to ease and more states and corporations looked to reopen for business. At 07:10 AM ET (1110 GMT), S&P 500 Futures traded 32 points, or 1.2%, higher, Nasdaq 100 Futures up 110 points, or 1.3%. The Dow futures contract rose 270 points, or 1.2%.
Shares of Starbucks (NASDAQ: SBUX) climbed 23% in April, according to data provided by S&P Global Market Intelligence. At the end of the company's second quarter, only around 55% of Starbucks stores in the U.S. remained open. Around 76% of drive-thru locations remained open but in the last week of the quarter, comparable store sales fell off a cliff, registering declines between 60% to 70%.
Starbucks (NASDAQ: SBUX) reported a 5% decline in fiscal 2020 second-quarter revenue and a 47% drop in earnings per share due to the coronavirus outbreak. The coffee chain said that's because most of the coronavirus effect in the U.S. -- Starbucks' biggest market -- happened and is happening in the third quarter of its fiscal year. During the company's earnings call last week, management said that while coronavirus hurt its U.S. business for the last two or three weeks of the second quarter, it will hurt all 13 weeks in the third quarter.
Starbucks (NASDAQ: SBUX) will be giving its customers exactly what they want when the company reopens its stores. The coffee shop giant said in its earnings call this week that it is putting the focus on drive-through, curbside delivery, and other techniques that will assure the safety of customers and employees. Sales fell as Starbucks temporarily closed stores throughout the world, including in its second-biggest market, China, and its largest market, the U.S. Most Starbucks stores have reopened in China, and the company expects to reopen 90% of company-operated U.S. stores by early June.
Starbucks (NASDAQ: SBUX) has dealt with significant global disruption, yet it still managed to make a profit. Same-store sales were also strong, dropping by only 10% and "driven by a 13% decrease in comparable transactions, partially offset by a 4% increase in average ticket," according to the Q2 earnings release. Starbucks has been operating many of its stores for drive-through, pickup, and delivery.
Starbucks (NASDAQ: SBUX) says it's on the road to recovery in China after the coronavirus outbreak led to a 50% drop in same-store sales in the second quarter of fiscal 2020. Starbucks' shares are down 13% so far this year amid this setback in the company's second-biggest and fastest-growing market and elsewhere. Starbucks is preparing to open at least 500 new stores in China this fiscal year -- that's more than 80% of its original plan.
Yahoo Finance speaks with Dunkin' Brands CEO David Hoffmann about the outlook for the restaurant chain coming out of the COVID-19 pandemic.
Starbucks hasn't exactly had an easy time of it. The company's quarterly earnings report showed just how ugly things got in the U.S., with same-restaurant sales down more than 60% when stay-at-home orders went into effect. Sure, that's not ideal, but it's a better indication of the baseline, particularly with the company getting ready to start opening more of its stores in the weeks ahead.
Considering the economic situation at the moment created by the reaction to the COVID-19 pandemic, many Americans consider themselves lucky that they still have jobs, while others are dipping into emergency funds to just get by in the hopes that their jobs will eventually return. Nike is the leader in the shoe and sports apparel industry and continues to innovate, raking in sales with its celebrity-endorsed and technologically advanced products. In the company's recently completed third quarter, revenue increased 5% despite the closure of stores in China, its biggest growth market.
As expected, Starbucks (NASDAQ: SBUX) had a rough go of it during its fiscal 2020 second quarter (the three months ended March 29). The global coffee powerhouse was facing a shutdown in China, its most important growth market, and that shutdown extended to the U.S. and the rest of the world by March. As a result, global comparable-store sales fell 10% from a year ago, revenue fell 5% to $6.0 billion, and adjusted earnings per share fell 47%.
Zacks Earnings Trends Highlights: Ford, Delta Air, Starbucks, Boeing, Alphabet, Coca-Cola and Proctor & Gamble
Shares of Wendy's (NASDAQ: WEN), Shake Shack (NYSE: SHAK), and Bloomin' Brands (NASDAQ: BLMN) were climbing today along with the broad market as investors were encouraged by news of a drug trial that showed positive results in helping patents recover from COVID-19, and on better-than-expected earnings reports in the restaurant industry. As of 2:40 p.m. EDT, Wendy's stock was up 5.3%, while Shake Shack had gained 8.3%, and Outback Steakhouse-parent Bloomin' Brands jumped 17.8%. At the same time, the S&P 500 was 2.9% higher, showing the rally in the broad market.
Few companies have been battered by the coronavirus pandemic as much as Starbucks (NASDAQ: SBUX) has. As a restaurant operator, Starbucks' industry is being directly impacted by the outbreak while restaurant dining rooms across the U.S. and much of the world have closed to stop the spread of the virus. As a result, Starbucks' second-quarter earnings report for the January-to-March quarter showed both sales and earnings down, but a strong start to the quarter in the U.S. helped deliver solid numbers given the headwinds.
(Bloomberg) -- Starbucks Corp. Chief Executive Officer Kevin Johnson says U.S. consumers will return to cafes and restaurants as they adapt to life post-Covid 19. But it’s going to take time.“We have all been in our homes for six weeks, we have got a little stir-crazy,” Johnson said in a Bloomberg Television interview. “People want to get out and do something, but they want to be responsible.”The Seattle-based chain aims to reopen 90% of its U.S. locations by early June, with most limited to drive-thru, delivery and pickup at store entries. The majority will start expanding operations next week, Johnson said. In some limited cases, it will allow to-go orders to be placed at the counter inside a store, so long as social distancing practices are possible.The coronavirus pandemic is presenting a stern test to Starbucks’ central concept of creating a “third place” that’s away from both home and the office where consumers can relax and socialize. People won’t fully let their guard down until a vaccine is available, and even then, habits likely have changed for good, Johnson said.“The effect and the experience in Covid-19 will affect all of us for the rest of our lifetime,” he said.‘Gravitational Pull’Even so, he remains optimistic that, with time, consumers will return to Starbucks.“The fact is that, as human beings, we have this natural gravitational pull to interact with other humans,” Johnson said. That “feeling a part of community is really what the ‘third place’ is about.”For now, there’s still widespread apprehension about going out, even as parts of the U.S. start to reactivate their economies. As a result, Starbucks isn’t going to provide any seating in its U.S. stores until it believes it is safe to do so. In China, where the company has been battling with the effects of the virus since January, most locations still aren’t offering seating. Others have very limited seating.Prior to the pandemic, 80% of U.S. Starbucks orders were in a to-go form. The opposite was true in China, where the majority of customers preferred to take a seat in-store, a trend that’s now shifted during the outbreak.Starbucks is focusing on China and the U.S. as its priority markets, and the coronavirus outbreak hasn’t changed that. Johnson said the company still plans to open 500 new stores in China this year, with the number inching up to 600 next year. He added the company has taken market share during the global pandemic.Luckin Coffee Inc., a key competitor in the Chinese market, has been hobbled by an accounting scandal, stock crash and defaulted loans in recent weeks.Daily ‘Uplift’With economic data taking a turn for the worse, Johnson is also bullish on Starbuck’s prospects to thrive in a recession.“Customers are looking for something to uplift the every day,” he said. “Maybe they cut back a little bit, but there’s an affinity customers have for Starbucks.” Johnson said customer-loyalty has carried the company through past recessions.Edward Jones analyst Brian Yarbrough says large swaths of the population are hooked on their morning cup, and that could help Starbucks recover.“Caffeine is addicting, people need their morning coffee,” Yarbrough said in an interview. “Their business was solid before Covid hit. If we come back from this, and consumers go back to work, they will go back to their normal routine.”Starbucks had a tough second quarter, reporting yesterday that same-store sales fell 10% globally during the company’s fiscal second quarter. While almost all of its locations in China are now open, the lingering impact from the coronavirus pandemic will trim same-store sales there by 15% to 25% this fiscal year, the company said.Even so, Starbucks is still optimistic about the long-term growth prospects in China.Starbucks shares fell as much as 2.5% to $76.73 on Wednesday.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.