Starbucks' Q2 2024 performance did not meet expectations, and its stock price plummeted by over 15%
因醉鞭名马幌
发表于 2024-5-2 20:07:50
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On May 2nd, Red Star Capital Bureau reported that on May 1st local time, the stock price of Starbucks (SBUX. US) plummeted, dropping nearly 18% during trading. As of the close, it fell 15.88%, closing at $74.44, with a total market value of $84.281 billion. The market value evaporated by over $15.9 billion on the same day.
On the news front, Starbucks disclosed its performance for the second quarter of fiscal year 2024 (as of the end of March 2024), with a revenue of 8.563 billion US dollars, a year-on-year decrease of 1.8%; The net profit attributable to the parent company was 772 million US dollars, a year-on-year decrease of 15%.
From a specific business perspective, Starbucks' global same store sales decreased by 4% year-on-year. Among them, same store sales in the United States decreased by 3%, and same store sales in China decreased by 11%.
In response to this, Starbucks Global CEO Nasihan stated that the quarter's performance did not meet expectations. Meanwhile, Starbucks has lowered its expected annual revenue growth from 7% to 10% to lower single digits.
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Disclaimer: The views expressed in this article are those of the author only, this article does not represent the position of CandyLake.com, and does not constitute advice, please treat with caution.
Disclaimer: The views expressed in this article are those of the author only, this article does not represent the position of CandyLake.com, and does not constitute advice, please treat with caution.
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