Starbucks is set to report its fiscal Q3 earnings report as an activist investor is knocking on its door.
Its shares are down nearly 28% compared to a year ago, when the coffee giant painted a picture of aQ3 revenue is expected to grow 0.37% to $9.20 billion, per Bloomberg consensus estimates. Adjusted earnings per share is expected to be $0.92, compared to $1.00 a year ago.
She added "sentiment on Starbucks continues to lean negative... has been less topical than other large caps and relative to the past few quarters." Last quarter, China saw the biggest drop of all Starbucks segments, with same-store sales down 11%, foot traffic down 8%, and the average ticket size down 4%. This quarter, Wall Street expects roughly the same, with sales down 10.58%.
"Intense competition is the natural state of restaurant markets and even the strongest brands are not insulated," she said. "The direction of SBUX's China same-store sales growth is strongly correlated with those of other global brands. And all are correlated with macro factors .
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