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Starbucks posts 7.9% same-store sales growth as US outlook improves
The company reported adjusted EPS of $0.85 and raised guidance, forecasting US same-store sales growth of 6.5% or higher in the fourth quarter.
Starbucks said its turnaround is gaining traction as it posted 7.9% same-store sales growth in the third quarter, topping the 5.7% increase expected by Wall Street, according to Yahoo Finance data cited from Bloomberg.
The company also reported adjusted earnings per share of $0.85, above the $0.56 forecast and up from $0.50 in the same period last year. Revenue came in at $9.3 billion, ahead of the $9.2 billion estimate, but down from $9.5 billion in the prior year period as its China business moved into a joint venture.
CEO Brian Niccol said the “Back to Starbucks” plan is working and aims to restore the “third place” concept. He said “Coffee House uplift” efforts surpassed the goal of transforming 1,000 stores across North America by the end of fiscal 2026, and early data shows customers are visiting more throughout the day.
Starbucks also flagged strength in North America, where sales rose 8.1%. The company raised guidance again, expecting US same-store sales growth of 6.5% or higher in the fourth quarter, and for the full year it now expects US same-store sales growth of a little more than 6% and global growth near 6%, according to Yahoo Finance.
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