Starbucks: adjusted EPS down 27% in Q4
(CercleFinance.com) - On Thursday evening Starbucks reported Q4 2019-20 adjusted non-GAAP EPS of 51 cents, down 27% year-on-year, although still well above expectations.
The coffee chain's sales declined by 8% to 6.2 billion dollars, mainly due to lost sales due to the Covid-19 pandemic. At constant stores, sales fell by 9% despite a 17% increase in the average receipt.
The Seattle-based group thus posted adjusted FY EPS that is down 59% at 1.17 dollar. Meanwhile, for FY 2020-21, it expects EPS of 2.70-2.90 dollars for expected revenues of 28-29 billion dollars.
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