$SBUX (+2,42%) REPORTS PRELIMINARY Q4 & FY24 RESULTS, SUSPENDS FY25 GUIDANCE

Starbucks reported Q4 revenue down 3% to $9.1B, with global comparable sales falling 7% and U.S. store sales down 6%. China saw a 14% decline in sales, reflecting competition and soft consumer demand. Adjusted EPS hit $0.80, missing analyst expectations of $1.03.

For FY24, revenue rose 1% to $36.2B, though global store sales fell 2%. Starbucks cited weaker traffic and macro challenges as key hurdles, prompting a suspension of FY25 guidance during its ongoing strategic review.

The company raised its quarterly dividend by 7% to $0.61 per share, signaling long-term confidence. 

CEO Brian Niccol in the PR emphasized the need for a “Back to Starbucks” plan, focusing on core strengths to reverse declining traffic and reset strategy. Full earnings release expected Oct. 30.