Starbucks' Q4 Preliminary Results Disappoint: How to Play the Stock?
Starbucks(SBUX) ZACKS·2024-10-24 01:51
Shares of Starbucks Corporation (SBUX) declined 4.2% in the after-hours trading session on Tuesday after the company reported disappointing preliminary results for the fourth quarter and fiscal 2024.For the fiscal fourth quarter, the coffee giant saw a year-over-year global comparable store sales decline of 7%, with consolidated net revenues dipping 3% to $9.1 billion. GAAP earnings per share were 80 cents, reflecting a 25% year-over-year drop on a constant-currency basis. Then again, adjusted earnings per ...