economy
Starbucks raises full-year outlook as turnaround takes hold
Starbucks' global same-store sales, which only includes cafes open at least a year, increased 6.2%, fueled by more visits to its locations.
TL;DR
- Starbucks raised its full-year outlook for comparable earnings and same-store sales growth.
- The company reported its second consecutive quarter of traffic growth.
- Global and U.S. same-store sales are now expected to increase by at least 5% for fiscal 2026.
- Adjusted earnings per share forecast was raised to a range of $2.25 to $2.45.
- Starbucks' fiscal second-quarter results exceeded Wall Street expectations for earnings per share and revenue.
- Global same-store sales increased by 6.2%, driven by increased customer visits.
- U.S. same-store sales grew by 7.1%, with a 4.3% increase in transactions.
- The turnaround strategy involves focusing on improving cafe operations, new menu items, and reintroducing seating.
- International same-store sales saw a more modest increase of 2.6%, with China's sales growing by only 0.5%.
- Boyu Capital acquired a majority stake in Starbucks' China business.