Why Starbucks Stock Is Down 35% So Far in 2022
Starbucks (NASDAQ: SBUX) stock is looking far from robust this year. Shares are down 35% through the first half of 2022, according to data provided by S&P Global Market Intelligence, compared to a 21% drop in the S&P 500.
That decline seems even worse when stacked up against peers in the restaurant and fast-food spaces. McDonald's stock is down just 8% this year, for example, and Chipotle Mexican Grill shares are also outperforming the coffee chain. Investors are more concerned about Starbucks' stock, given its unique operating challenges today.
The coffee giant said in early May that sales grew in the fiscal second quarter, with the 7% global increase coming from a nice balance between rising traffic and higher average spending. Profits are still rising, despite soaring costs for inputs, labor, and transportation.
Source Fool.com
