Starbucks forecasts steamy sales despite pressure in China

Reuters2021-07-28

Starbucks Corp forecast fourth-quarter sales above Wall Street estimates on Tuesday despite headwinds in China as travel restrictions related to COVID-19 loom longer than expected. The coffee chain ...

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精彩评论

VernonChiam
2021-07-29
VernonChiam
Wow
GinOng
2021-07-28
GinOng
Who don’t like steamy hot coffee?
ocean_wave
2021-07-28
ocean_wave
[强]
- Teslawonder:
  nice starbucks coffee
bernardtayet
2021-07-28
bernardtayet
Agreed with the forecast.
Val準凖
2021-07-28
Val準凖
Oh…..no..no
Desmond669
2021-07-28
Desmond669
Good

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155

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Analysts on average expect growth of 17.5%, according to IBES data from Refinitiv.\nBut the Delta variant of the coronavirus has triggered a surge of new COVID-19 cases and the reinstatement of mask rules in some places.\nThe United States said on Monday that it will not lift existing travel restrictions.\nIn the third quarter ended June 27, sales rose 19% in China - Starbucks' biggest growth market - despite a resurgence of COVID-19 in the south, Belinda Wong, chief executive officer of Starbucks China, said on a call with analysts.\nStarbucks lowered its fiscal 2021 forecast for China sales growth to 18-20% from 27-32%, and it dropped its international sales forecast to 15-17% from 25-30%.\nThe company's previous guidance for China had \"assumed a shorter time frame for the lifting of travel restrictions and also less of the uncertainties that we have faced in the market,\" Wong said of the revision.\nThe volatility is \"only temporary\" and the company is on track to add more than 600 net new stores in China this fiscal year, she said.\nShares fell 3.3% in extended trading.\nIn the United States, the easing of COVID-19 restrictions on travel and restaurant capacity, as well as reopening of some offices have boosted sales at Starbucks and other big U.S. restaurants, including Chipotle Mexican Grill(CMG.N)and Domino's Pizza(DPZ.N).\nStarbucks' U.S. quarterly sales soared 83% over the previous year - in part as urban areas recovered with people returning to businesses - and 10% above pre-pandemic levels two years ago.\nThose results helped lift global sales 73% compared to estimates of 69.4% growth.\nThe company has also been pushing its digital business - its rewards program grew 48% to 24.2 million members - and new beverages, including three flavors of ready-to-drink coffee.\nIts cold drinks also grew to 74% of beverage sales in the quarter.\nExcluding certain items, Starbucks earned $1.01 per share, compared with a loss of 46 cents a year earlier. That exceeded analysts' estimates of 78 cents a 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don’t like steamy hot coffee?","listText":"Who don’t like steamy hot coffee?","text":"Who don’t like steamy hot coffee?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/803721429","repostId":1180374779,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":803712245,"gmtCreate":1627463531187,"gmtModify":1631890746100,"author":{"id":"3578971018458145","authorId":"3578971018458145","name":"ocean_wave","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3578971018458145","authorIdStr":"3578971018458145"},"htmlText":"[强]&nbsp;","listText":"[强]&nbsp;","text":"[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/803712245","repostId":1180374779,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6353168,"gmtCreate":1635386782789,"gmtModify":1635386782789,"authorId":3574996021054734,"author":{"id":3574996021054734,"idStr":"3574996021054734","authorId":3574996021054734,"name":"Teslawonder","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":803712245,"type":1,"supId":0,"prevId":0,"content":"nice 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