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Mar 31, 2024
Starbucks Q2 2024 Earnings Report
Starbucks' Q2 2024 performance was impacted by a complex operating environment, leading to a decline in consolidated net revenues and comparable store sales.
Key Takeaways
Starbucks reported a 2% decline in consolidated net revenues to $8.6 billion for Q2 2024, driven by a 4% decrease in global comparable store sales. GAAP and non-GAAP EPS both landed at $0.68. The company opened 364 net new stores, bringing the total to 38,951 worldwide.
Global comparable store sales decreased by 4%, influenced by a 6% drop in comparable transactions, partially offset by a 2% increase in average ticket.
North America and U.S. comparable store sales declined by 3%, with a 7% decrease in comparable transactions offset by a 4% rise in average ticket.
International comparable store sales fell by 6%, resulting from a 3% decline in both comparable transactions and average ticket; China comparable store sales decreased by 11%, driven by an 8% decline in average ticket and a 4% decline in comparable transactions.
The company expanded its global presence by opening 364 net new stores in Q2, reaching a total of 38,951 stores, with 52% company-operated and 48% licensed.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company will discuss fiscal year 2024 financial targets during its Q2 FY24 earnings conference call.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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