Starbucks Corporation

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  • Jul. 23, 2015, 4:25 PM
    • Starbucks (NASDAQ:SBUX) reports global comparable store sales increased 7% in FQ3vs. 6.2% expected and 7% last quarter.
    • Transactions were up 4% and the average price paid per order was 3% higher.
    • Comp growth by region: Americas and U.S. +8%; EMEA +3%; China/Asia Pacific +11%. All three regions showed positive traffic.
    • Cost of sales +14.2% to $1.9359B as lower coffee costs helped.
    • CPG/foodservice revenue +7.9% to $491M.
    • The company's operating margin improved 70 bps Y/Y to 19.2%. Non-GAAP operating margin +100 bps to 19.5%.
    • The company added 413 net new stores during the quarter to reach 22,519 global stores.
    • FY15 guidance is reaffirmed at revenue growth of 16%-18%.
    • FY15 EPS of $1.57-$1.58 expected vs. $1.57 consensus (split-adjusted).
    • Starbucks announces a share repurchase authorization for an additional 50M shares. The company still has an allowance of 11M shares on an old buyback plan.
    • Previously: Starbucks and PepsiCo to partner in Latin America (Jul. 23 2015)
    • Previously: Starbucks beats by $0.01, beats on revenue (Jul. 23 2015)
    • SBUX +2.44% AH to $57.96.
    | Jul. 23, 2015, 4:25 PM | 13 Comments
  • Jul. 23, 2015, 4:15 PM
    • Starbucks (NASDAQ:SBUX): Q2 EPS of $0.42 beats by $0.01.
    • Revenue of $4.88B (+17.6% Y/Y) beats by $20M.
    • Shares +2.3%.
    | Jul. 23, 2015, 4:15 PM | 13 Comments
  • Jul. 23, 2015, 4:08 PM
    • Starbucks (NASDAQ:SBUX) and PepsiCo (NYSE:PEP) announce they will partner in Latin America in the ready-to-drink coffee and energy beverage categories.
    • SBUX +2.40% after hours with earnings pending and PepsiCo -0.3%.
    | Jul. 23, 2015, 4:08 PM | 10 Comments
  • Jul. 23, 2015, 4:36 AM
    | Jul. 23, 2015, 4:36 AM | 118 Comments
  • Jul. 22, 2015, 5:35 PM
  • Jul. 22, 2015, 10:31 AM
    • Starbucks (SBUX +0.7%) and New York Times (NYT +0.6%) have struck a strategic partnership which has caught the eye of retail analysts.
    • Starbucks reward members (+10M) will have access to select NYT content through the company's mobile app and earn points if they purchase a digital or print subscription.
    • The program is expected to launch in the first half of 2016.
    • Starbucks plans to bring in other media providers to its app over time.
    | Jul. 22, 2015, 10:31 AM | 2 Comments
  • Jul. 17, 2015, 9:19 AM
    • Today's read on consumer prices led to a completely different story for milk and eggs.
    • The broad milk price category was down 1.1% M/M and 7.1% Y/Y to offer some relief for a wide variety of companies that includes McDonald's (NYSE:MCD), Starbucks (NASDAQ:SBUX), Coca-Cola (NYSE:KO), Dean Foods (NYSE:DF), WhiteWave Foods (NYSE:WWAV), and General Mills (NYSE:GIS). Milk prices also fell in April and May.
    • Egg prices skyrocketed 18.3% M/M and are now 22% higher from a year ago on an unadjusted basis. Cal-Maine Foods (NASDAQ:CALM) has been shooting higher all year off of elevated egg prices amid an avian flu outbreak.
    • Bureau of Labor Statistics CPI data
    | Jul. 17, 2015, 9:19 AM | 19 Comments
  • Jul. 16, 2015, 1:35 PM
    • Starbucks (SBUX +1%) says it will open 15 stores in urban communities with a lower level of average income communities by 2018.
    • The company says it's committed to hiring employees for each store from within the local neighborhood.
    | Jul. 16, 2015, 1:35 PM | 56 Comments
  • Jul. 14, 2015, 5:13 AM
    • South Africa's Taste Holdings, which recently licensed global pizza giant Domino's in the country, has signed an exclusive deal to bring Starbucks (NASDAQ:SBUX) to local shores from 2016.
    • "For the first time in sub-Saharan Africa, Starbucks will open full-format stores bringing the entire range of its food and beverages," Taste said in a statement.
    • The model follows one Starbucks has turned to for most of Europe, the Middle East and Africa, where it uses licensees to run all its stores.
    | Jul. 14, 2015, 5:13 AM | 5 Comments
  • Jul. 11, 2015, 12:36 PM
    • Chipotle (NYSE:CMG) has raised prices in the San Francisco area by an average of 10.5% to help offset higher wages the chain is paying out in the region.
    • The minimum wage in San Francisco increased to $12.25/hr in May after sitting at $10.74/hr. The double-digit rise in prices at San Francisco-area Chipotle outlets compared to only a 0.5% increase across the U.S. for the company.
    • Restaurant industry watchers are busy analyzing the impact of minimum wage hikes in San Francisco, Los Angeles ($15), Seattle ($15), and other cities along with the proposed hikes in 29 states (DOL list). The ability to pass off some of the wage burden is crucial with restaurants generating a good portion of their sales growth through higher average guest spending, instead of bustling traffic.
    • What to watch: Though wage pressure is a factor for almost all companies in the restaurant sector, analysts note price elasticity varies widely by chain. Chipotle, Starbucks (NASDAQ:SBUX), Domino's Pizza (NYSE:DPZ) are expected to continue to ease past price hikes without a high correlation on demand, while smaller chains or privately-owned restaurants could be hit the hardest. Dine-in chains like Denny's (NASDAQ:DENN), Red Robin Gourmet Burgers (NASDAQ:RRGB), and IHOP (NYSE:DIN) are also expected to feel a pinch.
    • Burger watch: The rise of competition in the hamburger segment impacts price elasticity negatively for players like Shake Shake (NYSE:SHAK), Habit Restaurants (NASDAQ:HABT), Sonic (NASDAQ:SONC), Burger King (NYSE:QSR), Jack in the Box (NASDAQ:JACK) and Wendy's (NASDAQ:WEN) - while at the top of the heap the timing is tricky for McDonald's (NYSE:MCD) to become too aggressive with price increases amid its turnaround charge.
    • Previously: Higher guest spending boosts restaurants in Q2 (July 10)
    | Jul. 11, 2015, 12:36 PM | 26 Comments
  • Jul. 10, 2015, 2:08 PM
    | Jul. 10, 2015, 2:08 PM | 11 Comments
  • Jul. 9, 2015, 12:15 PM
    | Jul. 9, 2015, 12:15 PM | 41 Comments
  • Jul. 6, 2015, 2:14 PM
    • Keurig Green Mountain (GMCR -3.6%) is slammed after SunTrust cut its stock price target to $70 from $95, citing a loss of market share to the likes of Kraft Heinz (KHC), JM Smucker (NYSE:SJM) and Starbuck (NASDAQ:SBUX).
    • The firm thinks GMCR will need to address share losses for its company-owned brands sooner rather than later, which will pressure earnings; market share for GMCR-owned brands have dropped to 28% from 35% over the past year and posted a 5% sales decline and 12% volume decline in the most recent four-week period, according to Nielsen, lost to GMCR’s licensed partners which have stronger brands and are promoting their products more than GMCR.
    • SunTrust says it does not believe GMCR wants simply to be a contract manufacturer for the industry; GMCR will need to step up promotions in the coming months while working through its higher-cost coffee hedges, which the firm cites as the key reason behind its FY 2015 earnings reduction.
    | Jul. 6, 2015, 2:14 PM | 5 Comments
  • Jul. 6, 2015, 2:02 PM
    • Starting tomorrow, Starbucks (SBUX -0.4%) will hike prices for small and large brewed coffees by $0.10 in most parts of the U.S. That will bring the price of a large coffee to $2.45 in most U.S. stores.
    • Prices for certain other drinks will also rise, with the increases generally ranging from $0.05-$0.20. The action comes as J.M. Smucker and others cut prices for coffee products in response to lower coffee futures.
    • Starbucks carried out similar price hikes in June 2014.
    | Jul. 6, 2015, 2:02 PM | 35 Comments
  • Jul. 1, 2015, 8:21 AM
    • J.M. Smucker (NYSE:SJM) cuts prices on packaged coffee products by an average of 6%.
    • The reduced pricing impacts products sold under the Folgers and Dunkin' Donuts brand names.
    • Wholesale coffee prices have moderated over the last six months (Robusta chart).
    | Jul. 1, 2015, 8:21 AM | 2 Comments
  • Jun. 30, 2015, 8:08 AM
    | Jun. 30, 2015, 8:08 AM | 83 Comments
Company Description
Starbucks Corp is the roaster, marketer & retailer of specialty coffee in the world, operating in 65 countries. It sells a variety of coffee & tea products. It sells goods and services under brands under Teavana, Tazo, Seattle's Best Coffee, etc.
Sector: Services
Country: United States