Starbucks reports 3% revenue decline to $9.1bn, 7% global sales drop, and suspension of 2025 guidance.
Starbucks announced disappointing preliminary results for its fiscal fourth quarter, ending September 29, with a 3% revenue decline to $9.1 billion and a 7% drop in global comparable sales. U.S. same-store sales fell 6%, and China saw a 14% decline. The company has suspended its fiscal 2025 guidance amid leadership changes, as new CEO Brian Niccol reassesses strategies. Shares dropped 3.57% following the report, with official results due on October 30.
October 22, 2024
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