83.30 -0.02 (-0.02%)
After hours: 7:53PM EST
|Bid||83.12 x 3000|
|Ask||83.44 x 2200|
|Day's range||82.61 - 83.98|
|52-week range||60.42 - 99.72|
|Beta (3Y monthly)||0.52|
|PE ratio (TTM)||28.54|
|Earnings date||28 Jan 2020|
|Forward dividend & yield||1.64 (2.01%)|
|1y target est||94.58|
Starbucks Coffee Company (SBUX) today unveiled Starbucks Reserve Roastery Chicago, which opens its doors to the public on Friday, November 15. Located on North Michigan Avenue and Erie Street on Chicago’s Magnificent Mile, the opening of Chicago Reserve Roastery marks Starbucks sixth global Roastery and third location in the U.S. Starbucks largest-ever immersive coffee experience – across five floors and 35,000 square feet of retail space – celebrates the company’s heritage and is a tribute to the roasting and the craft of coffee.
All eyes will be on President Trump Tuesday for U.S.-China trade war updates. Walmart, Nvidia, and others are set to report their quarterly earnings. And why Casey's General Stores (CASY) is a Zacks Rank 1 (Strong Buy) right now...
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(Bloomberg) -- After being given up for dead, cryptocurrency-based commerce -- albeit still tiny -- has started growing again.The amount of digital money sent to 16 merchant service providers such as BitPay rose 65% between January and July, according to data researcher Chainalysis. The price of Bitcoin, which accounted for 89% of all such transactions, had more than doubled over the seven months, to about $10,000. Typically, steep run-ups in the cryptocurrency’s price push people to spend less, and instead to hold or to speculate.The resurgence is in contrast to last year, when Chainalysis found that Bitcoin-based commerce was in decline. This time around, the researcher looked not just at Bitcoin but also at Tether, Litecoin and Bitcoin Cash, which are used to fund everything from online gambling to purchases at pot shops. “It suggests there’s more overall trust in crypto,” Kim Grauer, senior economist at New York-based Chainalysis, said in a phone interview.In one of the biggest efforts for mainstream use, Intercontinental Exchange Inc. plans to begin testing its consumer app for digital assets with Starbucks Inc. in the first half of 2020. Processor BitPay and others are adding support for new coins, also boosting commerce. The company, which says it processes more than $1 billion annually, anticipates continued growth as new cryptocurrencies are added to the mix including Bitcoin Cash Ether and XRP, spokesperson Jan Jahosky said in an email.The overall amount of crypto used in commerce remains tiny: It was $5.5 million on average per day in July, up from only about $3 million in January. Starbucks alone books about $70 million in sales daily.Inconvenience has been a major barrier. Transaction confirmation on the Bitcoin network can take an hour -- making it hard for someone to just walk in a store, buy a cup of coffee and leave. Many businesses still don’t accept the coins. And many consumers are still leery to spend them anyway, due to most cryptocurrencies’ wild volatility.Increased use of Tether -- a so-called stablecoin because its price doesn’t typically fluctuate much -- gave crypto commerce a boost, with the token’s use in commerce increasing five-fold between January and July, according to the researcher. In those seven months, Tether accounted for 9% of all commerce, Chainalysis said.“There’s still a lot of growth in Bitcoin,” Grauer said. “But if you look at Tether, especially in the second half of the year, Tether took off.”To contact the reporter on this story: Olga Kharif in Portland at email@example.comTo contact the editors responsible for this story: Jeremy Herron at firstname.lastname@example.org, Dave Liedtka, Rita NazarethFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Zacks Analyst Blog Highlights: Facebook, JPMorgan Chase, Royal Dutch Shell, Starbucks and Celgene
(Bloomberg Opinion) -- Of the 128,000 new nonfarm payroll jobs created in October, according to today’s employment report from the Bureau of Labor Statistics, 47,500 were at food services and drinking places. While that 37% share was anomalously high, the sector has been a major driver of job gains for this entire expansion. Of the 20 million new jobs created since employment bottomed out in February 2010, 3 million, or almost 14%, have been at food services and drinking places, much higher than their 8% share of employment. The restaurant employment boom seemed to be fizzling in late 2017, and definitely proceeded at a slower place for most of 2018 and earlier this year. But now it seems to be gaining strength again.The continued rise of food services employment says something encouraging about the current business cycle. Regardless of some weakness this year in manufacturing and oil and gas, and worries that the longest-ever expansion might finally be fading, Americans in general are still going out for meals and drinks — and restaurant and bar owners are still hiring workers to serve them.Over the longer haul, the rise of the restaurant tells several different stories, not all of them so encouraging. For example, employment at food services and drinking places hasn’t passed employment in manufacturing yet, but seems destined to overtake it before long.Food services jobs don’t pay as well as factory jobs or offer as regular hours: average weekly earnings in October were $389 in the former, $1,198 in the latter. Minimum wage laws and other policy efforts may be able to raise that pay somewhat, but there are limits because productivity growth in the sector is so slow. Since 1990, real output per hour worked has risen 10% at food services and drinking places, and 116% in manufacturing. A shift away from making stuff to providing services and experiences is perhaps inevitable in a wealthy, maturing economy, but it does pose challenges for maintaining economic growth and broadly shared prosperity.The rise of restaurants also signals a change in how we get our food. Overall spending on food has declined a lot as a share of disposable income since the 1920s, according to the U.S. Department of Agriculture. But restaurants have actually been taking a growing share of our paychecks over time, and thanks to them the overall food share has barely budged over the past decade.This is isn’t just about restaurants, of course. Full-service restaurants remain the biggest employer in the food services sector, with limited-service ones (e.g., fast food and fast casual) a close second, and together they accounted for more than 81% of the food services and drinking places jobs gains since February 2010. But the fastest growth has come at what the North American Industry Classification System refers to as snack and nonalcoholic beverage bars, a category that likely (the BLS never says) includes national chains such as Starbucks and Smoothie King as well as the locally owned coffee shops and juice bars one now finds in virtually every American downtown.(1)Microbreweries that serve drinks and even food generally aren’t included here, because they’re counted as manufacturers, but they’re clearly part of this phenomenon as well. Employment at breweries, wineries and distilleries was up 103,300, or 144%, from February 2010 through September, and small establishments where customers often show up in person have driven most of those gains.Feeding and serving drinks to people outside of their home has been a business for an awfully long time, but it also appears to be a major 21st century growth industry.(1) Data for narrower jobs categories comes out with a one-month lag, which is why this chart only goes to September.To contact the author of this story: Justin Fox at email@example.comTo contact the editor responsible for this story: Sarah Green Carmichael at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Justin Fox is a Bloomberg Opinion columnist covering business. He was the editorial director of Harvard Business Review and wrote for Time, Fortune and American Banker. He is the author of “The Myth of the Rational Market.”For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Taste Holdings , owner of Starbucks and Domino's Pizza franchises in South Africa, said on Friday it was abandoning the food business, and had already sold its 13 stores of the coffee chain to a consortium for 7 million rand (£357,873). The company said it was also in discussions on the sale of Domino's and its two other food businesses, restaurant chain Maxi's and The Fish & Chips Co, as part of a new strategy to become a solely luxury retail group. It had been trying to turn its food business around after putting Starbucks and Domino's expansions on hold a year ago amid losses - making Taste one of a string of retail firms hurt by a troubled South African economy.
Knowing when to buy growth stocks is a fine skill. Starbucks' breakout in 2010 and Shake Shack in 2018 show how to use the pyramiding technique.
U.S. stocks slid Thursday following reports that Chinese officials doubted whether a trade deal would get done, and some weaker-than-expected new economic data.
What's next for the U.S. Federal Reserve after it cut interest rates Wednesday. Some U.S.-China trade war updates. Quarterly earnings results from Apple and Facebook. And why Dollar General is a Zacks Rank 1 (Strong Buy) stock. - Free Lunch
Starbucks' (SBUX) fourth-quarter fiscal 2019 results gain from robust performance of Americas and International segments, store openings, enhanced customer experience, as well as digitalization.
Starbucks (SBUX) stock gained 3% during yesterday's extended trading session. Starbucks’ Q4 earnings were surprising as it grew 13% YoY.