Starbucks Needs to Turn Things Around, Fast
There's no way around it, (NASDAQ: SBUX) had a rough second quarter. The large coffee chain simply isn't resonating as well with customers right now. While there are a number of reasons why this could be happening, investors should be paying extra close attention to sales and, more to the point, same-store sales, right now. Here's why.
Starbucks hasn't suddenly seen a dearth of customers. In fact, it generated $8.6 billion in sales in the second quarter of 2024, showing that it remains a premier restaurant chain for coffee lovers. That translated into adjusted earnings of $0.68 per share. But that figure was down 8% from the same quarter a year ago. So there's something going on here that investors need to get their heads around.
Image source: Getty Images.
Source Fool.com
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