{"id":40875,"date":"2023-11-02T22:53:16","date_gmt":"2023-11-02T22:53:16","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/starbucks-stock-surges-on-earnings-beat-record-revenue-and-theres-more\/"},"modified":"2023-11-02T22:53:18","modified_gmt":"2023-11-02T22:53:18","slug":"starbucks-stock-surges-on-earnings-beat-record-revenue-and-theres-more","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=40875","title":{"rendered":"Starbucks Stock Surges on Earnings Beat, Record Revenue. And There\u2019s More."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000788300\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Starbucks<br \/>\n        Starbucks<br \/>\n       stock surged Thursday after the coffee chain posted fourth-quarter results that came in stronger than expected and teased details of a new strategy. <\/p>\n<p>\n        Starbucks<br \/>\n       (ticker: SBUX) reported earnings of $1.06 a share on record revenue of $9.38 billion in the quarter ending Oct. 1. Analysts polled by FactSet were predicting earnings of 97 cents a share and sales at $9.29 billion. <\/p>\n<div class=\"paywall\">\n<p>Global same-store sales jumped 8%, driven by a 4% rise in the average customer check and a 3% rise in transactions. Same-store sales in North America and the U.S. also climbed 8% but higher checks, which rose 6%, had a greater impact, while transactions rose 2%.<\/p>\n<p>\u201cAs we enter the current year, in the face of macro uncertainty, we remain confident in the momentum throughout our business and headroom globally. We expect sustained momentum throughout the company for years to come,\u201d CEO Laxman Narasimhan said.<\/p>\n<p>Starbucks expects revenue to grow between 10% and 12% this fiscal year, and sees it coming in on the low end of that range. Earnings per share growth will range between 15% and 20%, in line with the company\u2019s long-term guidance. <\/p>\n<p>Global same-store sales are forecast to increase between 5% and 7%, below the company\u2019s long-term guidance for growth between 7% and 9%. <\/p>\n<p>Starbucks has scheduled an investor update for 4 p.m. Eastern time, where the company will detail a new strategic update called Triple-Shot Reinvention. <\/p>\n<p>Narasimhan teased a few elements from the update during Thursday morning\u2019s call. The plan hinges around elevating the Starbucks brand, scaling the company\u2019s digital performance, becoming \u201ctruly global,\u201d reinvigorating partner culture, and unlocking efficiencies, he said. Management also said that the company was planning on saving $3 billion in cost efficiencies over the next three years, with a big portion coming from the supply chain.<\/p>\n<p>Initiatives that sprung from 2022\u2019s reinvention plan, including rolling out new equipment and improving employee scheduling, are \u201con track,\u201d Narasimhan said. <\/p>\n<p>\u201cWhile the F4Q update was encouraging, we expect shares will respond more so to FY24 guidance\u2026and reinvention plan,\u201d wrote Citi analyst Jon Tower in a note Thursday.<\/p>\n<p>Shares of Starbucks were 12<strong>%<\/strong> higher ahead of the opening bell. The stock has fallen 8% this year as of Wednesday\u2019s close. <\/p>\n<p>Write to Sabrina Escobar at sabrina.escobar@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/starbucks-earnings-stock-price-d0ff59b5?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Starbucks Starbucks stock surged Thursday after the coffee chain posted fourth-quarter results that came in stronger than expected and teased details of a new strategy. Starbucks (ticker: SBUX) reported earnings of $1.06 a share on record revenue of $9.38 billion in the quarter ending Oct. 1. Analysts polled by FactSet were predicting earnings of 97 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":40876,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[33],"tags":[],"class_list":{"0":"post-40875","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Starbucks Stock Surges on Earnings Beat, Record Revenue. And There\u2019s More. | Prosfunds<\/title>\n<meta name=\"description\" content=\"Starbucks Starbucks stock surged Thursday after the coffee chain posted fourth-quarter results that came in stronger than expected and teased details of a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/prosfunds.com\/?p=40875\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Starbucks Stock Surges on Earnings Beat, Record Revenue. And There\u2019s More. | Prosfunds\" \/>\n<meta property=\"og:description\" content=\"Starbucks Starbucks stock surged Thursday after the coffee chain posted fourth-quarter results that came in stronger than expected and teased details of a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/prosfunds.com\/?p=40875\" \/>\n<meta property=\"og:site_name\" content=\"Prosfunds\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-02T22:53:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-02T22:53:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/11\/1698965597_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/prosfunds.com\/?p=40875#article\",\"isPartOf\":{\"@id\":\"https:\/\/prosfunds.com\/?p=40875\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6\"},\"headline\":\"Starbucks Stock Surges on Earnings Beat, Record Revenue. And There\u2019s More.\",\"datePublished\":\"2023-11-02T22:53:16+00:00\",\"dateModified\":\"2023-11-02T22:53:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/prosfunds.com\/?p=40875\"},\"wordCount\":381,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/prosfunds.com\/#organization\"},\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/prosfunds.com\/?p=40875#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/prosfunds.com\/?p=40875\",\"url\":\"https:\/\/prosfunds.com\/?p=40875\",\"name\":\"Starbucks Stock Surges on Earnings Beat, Record Revenue. And There\u2019s More. | Prosfunds\",\"isPartOf\":{\"@id\":\"https:\/\/prosfunds.com\/#website\"},\"datePublished\":\"2023-11-02T22:53:16+00:00\",\"dateModified\":\"2023-11-02T22:53:18+00:00\",\"description\":\"Starbucks Starbucks stock surged Thursday after the coffee chain posted fourth-quarter results that came in stronger than expected and teased details of a\",\"breadcrumb\":{\"@id\":\"https:\/\/prosfunds.com\/?p=40875#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/prosfunds.com\/?p=40875\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/prosfunds.com\/?p=40875#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/prosfunds.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Starbucks Stock Surges on Earnings Beat, Record Revenue. And There\u2019s More.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/prosfunds.com\/#website\",\"url\":\"https:\/\/prosfunds.com\/\",\"name\":\"Funding Factories\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/prosfunds.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/prosfunds.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/prosfunds.com\/#organization\",\"name\":\"Funding Factories\",\"url\":\"https:\/\/prosfunds.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png\",\"contentUrl\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png\",\"width\":780,\"height\":140,\"caption\":\"Funding Factories\"},\"image\":{\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/prosfunds.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png\",\"contentUrl\":\"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/prosfunds.com\"],\"url\":\"https:\/\/prosfunds.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Starbucks Stock Surges on Earnings Beat, Record Revenue. And There\u2019s More. | Prosfunds","description":"Starbucks Starbucks stock surged Thursday after the coffee chain posted fourth-quarter results that came in stronger than expected and teased details of a","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/prosfunds.com\/?p=40875","og_locale":"en_US","og_type":"article","og_title":"Starbucks Stock Surges on Earnings Beat, Record Revenue. And There\u2019s More. | Prosfunds","og_description":"Starbucks Starbucks stock surged Thursday after the coffee chain posted fourth-quarter results that came in stronger than expected and teased details of a","og_url":"https:\/\/prosfunds.com\/?p=40875","og_site_name":"Prosfunds","article_published_time":"2023-11-02T22:53:16+00:00","article_modified_time":"2023-11-02T22:53:18+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/11\/1698965597_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/prosfunds.com\/?p=40875#article","isPartOf":{"@id":"https:\/\/prosfunds.com\/?p=40875"},"author":{"name":"News Room","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6"},"headline":"Starbucks Stock Surges on Earnings Beat, Record Revenue. And There\u2019s More.","datePublished":"2023-11-02T22:53:16+00:00","dateModified":"2023-11-02T22:53:18+00:00","mainEntityOfPage":{"@id":"https:\/\/prosfunds.com\/?p=40875"},"wordCount":381,"commentCount":0,"publisher":{"@id":"https:\/\/prosfunds.com\/#organization"},"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/prosfunds.com\/?p=40875#respond"]}]},{"@type":"WebPage","@id":"https:\/\/prosfunds.com\/?p=40875","url":"https:\/\/prosfunds.com\/?p=40875","name":"Starbucks Stock Surges on Earnings Beat, Record Revenue. And There\u2019s More. | Prosfunds","isPartOf":{"@id":"https:\/\/prosfunds.com\/#website"},"datePublished":"2023-11-02T22:53:16+00:00","dateModified":"2023-11-02T22:53:18+00:00","description":"Starbucks Starbucks stock surged Thursday after the coffee chain posted fourth-quarter results that came in stronger than expected and teased details of a","breadcrumb":{"@id":"https:\/\/prosfunds.com\/?p=40875#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/prosfunds.com\/?p=40875"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/prosfunds.com\/?p=40875#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/prosfunds.com\/"},{"@type":"ListItem","position":2,"name":"Starbucks Stock Surges on Earnings Beat, Record Revenue. And There\u2019s More."}]},{"@type":"WebSite","@id":"https:\/\/prosfunds.com\/#website","url":"https:\/\/prosfunds.com\/","name":"Funding Factories","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/prosfunds.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/prosfunds.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/prosfunds.com\/#organization","name":"Funding Factories","url":"https:\/\/prosfunds.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/","url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png","contentUrl":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/ff-dark-logo-1.png","width":780,"height":140,"caption":"Funding Factories"},"image":{"@id":"https:\/\/prosfunds.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/bab8f1b00ccebe43e39ff640793108e6","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/prosfunds.com\/#\/schema\/person\/image\/","url":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png","contentUrl":"https:\/\/prosfunds.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1693518183-96x96.png","caption":"News Room"},"sameAs":["https:\/\/prosfunds.com"],"url":"https:\/\/prosfunds.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/40875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40875"}],"version-history":[{"count":1,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/40875\/revisions"}],"predecessor-version":[{"id":40877,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/posts\/40875\/revisions\/40877"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=\/wp\/v2\/media\/40876"}],"wp:attachment":[{"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prosfunds.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}