Plus   Neg

Starbucks Raises 2019 Earnings Guidance; Q2 Profit Beats Estimates

Starbucks Corp. (SBUX) announced, with solid first-half financial results, the company is on track to deliver on its full-year commitments. For fiscal 2019, non-GAAP EPS is projected in the range of $2.75 to $2.79, revised from a range of $2.68 to $2.73 previously. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.71 for the fiscal year. Analysts' estimates typically exclude special items. The company continues to expect global comparable store sales growth between 3% and 4%.

For second-quarter, non-GAAP EPS was $0.60, up 13% over the prior year, including a $0.01 benefit from discrete income tax items. On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.56 for the quarter.

Second-quarter consolidated net revenues were $6.3 billion, grew 5% over the prior year. On an adjusted basis, consolidated net revenues grew 9%. Analysts expected revenue of $6.32 billion for the quarter. Global comparable store sales increased 3%, driven by a 3% increase in average ticket, for the second quarter.

Kevin Johnson, CEO, said: "We are especially pleased with our comparable store sales growth in our two lead markets, the U.S. and China, where we are also continuing to drive strong new store development with industry-leading returns."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Whole Foods Market stores have recalled Decorated Red Apple Cookies as they may contain undeclared egg. People who have an allergy or severe sensitivity to these allergens run the risk of serious or life-threatening allergic reaction if they consume these products. The cookies were sold by the... Norwex has announced voluntary recall of about 58,000 rubber brooms due to laceration hazard. According to the company, handles of the recalled brooms can break in half, exposing a metal inner rim, posing a laceration hazard to the user. The recall involves extendable indoor/outdoor white rubber... Amazon.com Inc. has expanded its AmazonFresh grocery delivery service to three new cities. Beginning today, Amazon Prime members in Houston, Minneapolis and Phoenix can shop thousands of products, ranging from meat and seafood to fresh produce and everyday essentials. The groceries will be delivered to their homes in two hours or less, with options for one-hour and two-hour delivery.
Follow RTT