Reported 3 months ago
Starbucks reported a 1% drop in Q3 revenue to $9.1 billion, missing expectations, with a 3% decline in global same-store sales and a foot traffic decrease of 5%. Despite these challenges, CEO Laxman Narasimhan expressed confidence in Starbucks' long-term potential and noted that the company is implementing new strategies to attract customers, including launching new menu items and focusing on value. The company's outlook for 2024 has been revised for the third time, now expecting low single-digit revenue growth and flat same-store sales globally.
Source: YAHOO