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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Starbucks Corporation    SBUX

STARBUCKS CORPORATION

(SBUX)
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Starbucks : second-quarter same store sales in China to fall by about 50%

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03/05/2020 | 08:22pm EDT
Woman wearing a face mask rides a bicycle past a Starbucks coffee store, as the country is hit by an outbreak of the novel coronavirus, in Beijing

Starbucks Corp said on Thursday it expects China sales in stores open for at least a year to fall by about 50% in the quarter ending March due to the coronavirus outbreak.

The world's largest coffee chain said the impact of the epidemic could reduce its second-quarter revenue in China by $400 million to $430 million versus its prior expectations, and hurt its adjusted earnings per share by 15 cents to 18 cents.

"The estimate reflects the impact of expected lost sales for the period, as well as continued expenses related to partner wages and benefits, store operations and additional costs incurred in response to the COVID-19 outbreak," the company said in a regulatory filing. (https://bit.ly/2wvRqmz)

Starbucks said it has been forced to defer some store openings planned in China for fiscal year 2020 to next year due to the outbreak.

The company said its business has also been affected in Japan, South Korea and Italy due to store closures and reduced customer traffic, but it is unable to quantify the impact as the outbreak is still in early stages.

The company, which generated about 70% of its revenue from the United States in the last fiscal year, said it was business as usual at home.

Starbucks' shares were up 0.6% at $76.65 in extended trading on Thursday. The stock fell 4.4% during regular trading hours and closed at $76.19.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Shailesh Kuber and Uttaresh.V)

Stocks mentioned in the article
ChangeLast1st jan.
STARBUCKS CORPORATION -0.61% 77.62 Delayed Quote.-11.72%
WORLD CO., LTD. 4.97% 1393 End-of-day quote.-48.23%
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Financials (USD)
Sales 2020 23 636 M
EBIT 2020 2 286 M
Net income 2020 1 384 M
Debt 2020 11 341 M
Yield 2020 2,13%
P/E ratio 2020 62,4x
P/E ratio 2021 28,6x
EV / Sales2020 4,32x
EV / Sales2021 3,63x
Capitalization 90 668 M
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Technical analysis trends STARBUCKS CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 34
Average target price 80,70 $
Last Close Price 77,62 $
Spread / Highest target 28,8%
Spread / Average Target 3,97%
Spread / Lowest Target -9,82%
EPS Revisions
Managers
NameTitle
Kevin R. Johnson President, Chief Executive Officer & Director
Myron E. Ullman Chairman
Rosalind Gates Brewer COO, Director & Group President-Americas
Patrick J. Grismer Chief Financial Officer
Gerri Martin-Flickinger Chief Technology Officer & Executive VP
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