HomeInvesting NewsStarbucks Stock Slides While Aggressive Goals Are Highlighted at an Investor Gathering

Starbucks Stock Slides While Aggressive Goals Are Highlighted at an Investor Gathering

Published on

Starbucks Corporation (NASDAQ:SBUX)

Due to the fact that the investor day event for the world’s largest coffee chain coincided with a day when the stock market as a whole declined, Starbucks Corporation (NASDAQ:SBUX) experienced a modest decline on Wednesday. Outgoing CEO Howard Schultz informed investors and analysts that the business anticipates revenue and earnings per share growth in the double digits.

Approximately 2,000 additional U.S. locations will be built by SBUX in the coming years as it continues to grow. Additionally, Starbucks (NASDAQ:SBUX) plans to spend about $450 million to replace outdated technology and equipment in current cafes. The preparation of personalized cold drinks is anticipated to benefit greatly from that new technology.

Revenue in North America is anticipated to increase by 40% in three years as a result of retail shop expansion, pricing changes, and technological advancements. By 2025, Starbucks (NASDAQ:SBUX) anticipates operating 2,000 outlets in Japan and 9,000 stores in China.

According to the corporation, personnel problems have significantly improved. SBUX executives gave investors a clue that a resumption of stock buybacks might not be too far away. Howard Schultz, the company’s founder, bemoaned the possibility that Starbucks (NASDAQ:SBUX) lost its direction during the epidemic, but he also noted a change in trend, with the coffee retailer recording its highest sales week in 51 years in August when the autumn drink assortment reappeared.

At 2:10 p.m., SBUX shares were down 0.66%.

Other News

For non-union locations, Starbucks (NASDAQ:SBUX) has announced a slew of new benefits. The new savings program will be implemented with Fidelity’s assistance. In accordance with the policy, all non-union workers in the US will be able to regularly transfer money from their paychecks into personal savings accounts. Starbucks will give up to $250 to each incentive-eligible partner by giving $25 and $50 at “important saving milestones.” On September 19, the benefit will begin to apply.

Featured Image-  Megapixl @RobertWei

Please See Disclaimer

Latest News

Recent Surge in Tesla Stock: Exactly What Caused It?

Tesla Stock (NASDAQ:TSLA) As of 11:30 a.m ET on Friday, Tesla stock was up 2.3%...

Here’s Why Carvana Stock Fell Quite So Much as 23.7% This Week

Carvana Stock (NYSE:CVNA) According to data provided by S&P Global Market Intelligence, Carvana stock fell...

Here’s Why Tellurian Stock Is Rising Again Today

Tellurian Stock (NYSEMKT:TELL) Tellurian stock was up 6.5% as of 11:06 p.m. ET today after...

Is It Time to Buy Chewy Stock?

Chewy Stock (NYSE:CHWY) Pet supplies are one of the few consumer goods that do well,...

More like this

2 Casino Stocks You Should Consider

With a recession on the horizon, investors must be more selective than ever. Analysts...

(Exxon Mobil Stock) Exxon Ceo Warns Biden Administration Against Restricting Fuel Exports

Exxon (Exxon Mobil Stock) opposes calls for oil corporations to reduce international exports and...

Apple Stock Loses $120 Billion Because of a Rare Downgrade

Apple stock just took a significant knock after it was once considered to be...

Meta Stock Tops Morningstar List of the Most Undervalued Stocks 

Morningstar compiled a list of the most undervalued stocks among those with a large...

Hd Stock up as Foundation to Contribute Up to $1 Million to Aid Communities Affected by Hurricane Ian

HD stock was trading at $280.23 as of 12:55 PM EDT. The Home Depot Foundation...

Making the Cut: Micron (Micron Stock)

Micron Technology Inc (Micron Stock) latest outlook brings expectations back to normal, although the...