Welcome to our dedicated page for Starbucks news (Ticker: SBUX), a resource for investors and traders seeking the latest updates and insights on Starbucks stock.
Starbucks Corporation (SBUX) is a global leader in the coffeehouse industry, renowned for its premium beverages, retail innovation, and commitment to sustainability. This page aggregates all official company announcements, financial disclosures, and market-relevant developments in one centralized location.
Investors and stakeholders will find timely updates on earnings reports, product launches, and strategic partnerships, alongside press releases detailing operational milestones. The curated collection includes updates on store expansions, sustainability initiatives, and leadership changes impacting SBUX’s global operations.
Bookmark this page to stay informed about Starbucks’ latest corporate news, including regulatory filings and analyst commentary. Visit regularly for unfiltered access to primary source materials critical for understanding the company’s trajectory in the competitive foodservice sector.
Condado Tacos has announced Derrick Pratt as the new CEO, effective July 1, 2024. Pratt, with nearly 40 years of experience in the restaurant industry, previously served as COO at Portillo's (PTLO) and held significant roles at Starbucks (SBUX) and McDonald's (MCD).
Under Pratt's leadership at Portillo's, he drove key technology initiatives and led the company through a successful IPO in 2021. Condado Tacos, which has doubled its locations in the past three years, aims to leverage Pratt's expertise for its next growth phase.
Pratt is expected to focus on strategic expansion, operational processes, and people development at Condado Tacos, aligning with the company's vision and culture. Condado Tacos currently operates 50 locations across 10 states.
Starbucks (Nasdaq: SBUX) announced that Rachel Ruggeri, executive vice president and chief financial officer, will host a fireside chat at the Deutsche Bank Global Consumer Conference in Paris on June 5, 2024, at 8:30 a.m. CEST (2:30 a.m. Eastern Time).
The event will be webcast live and available for replay on the company's Investor Relations website. Starbucks has a global presence with over 38,000 stores, emphasizing high-quality arabica coffee sourced ethically.
Starbucks reports Q2 fiscal 2024 results with consolidated net revenues down 2% to $8.6 billion due to a challenging operating environment. The GAAP and non-GAAP EPS were $0.68. Global comparable store sales declined by 4%, with North America and U.S. sales down by 3%. International sales also declined by 6%. The company opened 364 net new stores in Q2, ending with a total of 38,951 stores. Consolidated net revenues declined 2% to $8.6 billion. Starbucks reported a GAAP operating margin of 12.8%, a decrease of 240 basis points year-over-year. GAAP EPS declined by 14% to $0.68. Starbucks Rewards loyalty program 90-day active members totaled 32.8 million, up 6% year-over-year.
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