Starbucks Faces Sales Slump But Analysts See Silver Lining With New CEO's Efficiency Strategy
SBUXStarbucks(SBUX) Benzinga·2024-11-01 02:08

Starbucks Corporation SBUX shares are trading marginally higher on Thursday.Yesterday, the company reported fourth-quarter revenues of  $9.07 billion versus estimates of $9.38 billion. Comparable store sales declined 7% globally, driven by an 8% decline in comparable transactions, partially offset by a 2% increase in average ticket.Wedbush analyst Nick Setyan reiterated the Neutral rating on the stock, lowering the price forecast to $95 from $98.According to the analyst, the firm’s current valuation reflect ...