Starbucks Raises Full Year Forecast
Starbucks boosted its full year comparable sales growth and adjusted earnings per share outlook. Fiscal second quarter comparable sales grew 6.2%, exceeding the 3.65% estimate. US comparable sales rose 7.1%, surpassing the 3.7% market expectation. The company reported a beat in its raised quarter. Starbucks increased its full year profit and revenue forecast following a 6% increase in comparable sales in the most recent quarter. The growth follows a turnaround effort focused on customer experience after several quarters of declining sales post-pandemic. Traders are also monitoring Chipotle Mexican Grill results amid concerns regarding rising food costs.
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Sources · 7 independent
Bloomberg Radio
“And it actually did boost in its full year comp sales growth as well as an adjusted EPS outlook. As for the quarter that just passed the fiscal second quarter comp sales, they came in at 6.2% plus the estimate was for 3.65.”
Bloomberg Radio
“Starbucks now thinks it can brew up better profit and revenue for the full year than previously thought as it hikes its forecast.”
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