Starbucks: Q3 EPS down 7%
(CercleFinance.com) - On Tuesday evening Starbucks reported non-GAAP EPS down 7% to $0.
93 for Q3 2023-24, with its non-GAAP operating margin contracting 70bp to 16.7% at constant exchange rates. NB: pmt +2.4%.
The coffeehouse chain's net revenues contracted 1% on a reported basis to $9.1bn, with global same-store sales down 3%, largely due to a 14% drop in China.
Our efficiency efforts, which exceeded expectations, partially offset the investments associated with the cautious consumer environment, CFO Rachel Ruggeri points out, however.
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93 for Q3 2023-24, with its non-GAAP operating margin contracting 70bp to 16.7% at constant exchange rates. NB: pmt +2.4%.
The coffeehouse chain's net revenues contracted 1% on a reported basis to $9.1bn, with global same-store sales down 3%, largely due to a 14% drop in China.
Our efficiency efforts, which exceeded expectations, partially offset the investments associated with the cautious consumer environment, CFO Rachel Ruggeri points out, however.
Copyright (c) 2024 CercleFinance.com. All rights reserved.