Thu, Jul. 23, 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.
Thu, Jul. 23, 4:15 PM
Mon, Jul. 6, 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.
Thu, Apr. 23, 4:16 PM
Thu, Apr. 23, 4:13 PM
- Starbucks (NASDAQ:SBUX) reports global comparable store sales increased 7% in FQ2 vs. 5.1% expected and 4.9% last quarter.
- Transactions were up 3% and the average price per order was 4% higher.
- Comp growth by region: Americas and U.S. +5%; EMEA +2%; China/Asia Pacific +12%. All three regions showed positive traffic.
- The company's operating margin improved 40 bps Y/Y to 17.0%.
- My Starbucks Rewards member adds +1.3M members to 10.3M members total.
- The company added 210 net new stores during the quarter.
- FY15 guidance is reaffirmed at revenue growth of 16%-18% and a mid single-digit comp.
- FY15 EPS of $1.77-$1.79 expected vs. $1.57 consensus (split-adjusted).
- SBUX +4.17% AH to $51.50.
Wed, Mar. 18, 3:42 PM
- Starbucks (NASDAQ:SBUX) didn't forget about China at today's eventful annual meeting of shareholders.
- Execs noted that China is the coffee giant's fastest-growing market and say the company plans to have 3.4K stores open in the nation within five years.
- Shanghai already has more Starbucks outlets than any other city in the world.
- The company says it signed a deal with Tingyi Holdings to produce and distribute the company's ready-to-drink products in China.
- Starbucks plans to convert tea drinks in China to the Teavana brand in 2016.
- Previous from the annual meeting: Starbucks announces delivery service, Starbucks to split 2-for-1
- Shares of SBUX staged a rally during the event to carve out a 1.8% gain.
Mon, Mar. 9, 8:28 AM
- McDonald's (NYSE:MCD) appears to have lost market share during February in the U.S.
- Black Box Intelligence estimates that comparable-store sales in the restaurant industry rose 2.1% in February vs. the 4% decline reported earlier by McDonald's for the month.
- The deceleration across the industry was strongly influenced by a 5.8% drop in New England due to a harsh winter month, while McDonald's cites broader promotional pressure.
- Within the burger sector, Sonic reported a sizzling 11.5% comp for its FQ2 which included all of February and didn't mention any promotional headaches.
- Retail analysts think Sonic (NASDAQ:SONC) and Jack in the Box (NASDAQ:JACK) have converted some loyal McDonald's customers - while on a smaller scale the higher-end burger concepts at Five Guys, Habit Restaurants (NASDAQ:HABT), In-N-Out Burger, and even Shake Shack (NYSE:SHAK) have had an influence.
- An even deeper dive into breakfast traffic has concluded Starbucks (NASDAQ:SBUX) has taken some coffee-on-the-go share.
- Previously: McDonald's misses Feb. comp mark as U.S. disappoints
- MCD -1.21% premarket to $95.95 after shares floated over the $100 level last week.
Thu, Feb. 26, 10:42 AM
- Shares of J.M. Smucker (SJM +1%) and Dunkin Brands' (DNKN +2.9%) are both higher after the two companies sign a deal to broaden distribution for Dunkin' Donuts K-cups.
- J.M. Smucker is handling distribution to grocery stores and club chains, while Keurig Green Mountain (GMCR -0.1%) will cover office supply stores and specialty stores.
- Perhaps the most important aspect of the new distribution deal is that Dunkin' K-Cup packs will now be sold online.
- The K-cup shakeup isn't expected by most analysts to have a major impact on Starbucks (SBUX +0.2%) which is also a Keurig partner. Smaller coffee brands could suffer though.
Thu, Jan. 22, 5:36 PM
Thu, Jan. 22, 4:14 PM
- Starbucks (NASDAQ:SBUX) reports global comparable store sales increased 5% in FQ1 vs. 4.9% expected and 5.0% last quarter and in the year-ago period.
- Traffic was 2% higher during the quarter.
- Comp growth by region: Americas and U.S. +5%; EMEA +4%; China/Asia Pacific +8%.
- Operating margin improved -130 bps Q/Q and -10 bps Y/Y to 19.1%. The decline was due in a large part to a shift in ownership in Japan.
- My Starbucks Rewards member adds +10% to over 9M members.
- The company added 512 net new stores during the quarter.
- FY15 EPS guidance is reaffirmed at revenue growth of 16%-18% and a mid single-digit comp.
- FY15 EPS of $3.09-$3.13 expected vs. $3.13 consensus.
- SBUX +3.17% AH
Thu, Jan. 22, 4:04 PM
Fri, Jan. 9, 9:35 AM
- Reports indicate the departure of Starbucks (SBUX -1.3%) COO Troy Alstead is due to a personal issue which has been under discussion for some time.
- The Puget Sound Business Journal suggests it's "unlikely" Alstead will return to the company.
- Alstead nearly left the company in 2008 before CEO Howard Schultz talked him into staying.
- Several analysts have tipped that the dip in shares makes for a good entry point on Starbucks, although SA contributor Howard Penney has a detailed look on the company which could give some investors pause.
Mon, Jan. 5, 9:16 AM
Dec. 5, 2014, 8:32 AM
- JPMorgan raises its price target on Starbucks (NASDAQ:SBUX) to $89 from $82 after taking in the company's Investor Day presentation.
- Piper Jaffray thinks share will "double" in the next four years. Needless to say the firm has an Overweight rating locked in on the Seattle company.
- Other analysts are giving Starbucks CEO Howard Schultz for staying ahead of the "seismic" change in retail toward mobile as best he can with a brick-and-mortar operation.
- Previously: Starbucks Investor Day: Wine, mobile ordering, and China expansion all on tap (Dec. 04 2014)
- SBUX +0.9% premarket.
Oct. 7, 2014, 8:37 AM
- Shares of Keurig Green Mountain (NASDAQ:GMCR) are higher in early action despite a soft read from SodaStream (NASDAQ:SODA) on demand for home beverage systems.
- A strong initiation from Goldman Sachs on the stock is helping to offset any concerns on the category.
- Coca-Cola (NYSE:KO) has its eyes on the developments with its 10-year Keurig Cold partnership kicking off in 2015.
- If it's true that PepsiCo (NYSE:PEP) and Starbucks (NASDAQ:SBUX) have interest in SodaStream - there's some number-crunching going inside the C-suites there.
- GMCR +2.1% premarket, SODA -17.5%.
Sep. 23, 2014, 5:28 PM
- Starbucks (NASDAQ:SBUX) is acquiring the 60.5% of Starbucks Coffee Japan (OTC:STBJF) it doesn't own from JV partner Sazaby League in a 2-stage deal valued at ¥99.5B ($913.5M). The JV was formed in 1995, and now runs over 1K stores.
- Through a tender offer, Starbucks will pay ¥965/share for Sazaby's 39.5% stake. Once the deal has closed, a tender will be launched for the 21% stake held by public shareholders/option holders at a price of ¥1,465/share (a 4.7% premium to Monday's close). The deals are expected to be completed during 1H15.
- Starbucks expects the purchase to be slightly accretive to FY15 (ends Sep. '15) results on an adjusted basis. The company asserts the deal "positions Starbucks to accelerate growth across multiple channels in Japan, including the potential introduction of new concepts, such as Teavana."
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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.
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