Shares of Starbucks recovered from losses of February and March due to the pandemic and rose by 19.7% over the past 6 months. But shares fell again after the publication of the quarterly report, which ended September 30.<\/p>\n
Starbucks revenue and profit for the 4th quarter of fiscal 2020 showed a strong jump in growth after a sharp decline in the third quarter.<\/p>\n
Starbucks reported that 98% of its stores currently remain open, but visitor traffic is limited due to quarantine measures.<\/p>\n
Earnings per share were $ 0.51, which is 27% lower than the same quarter a year ago, but better than analysts’ estimates of $ 0.31. The amount of quarterly profit decreased to $ 392.6 million, compared to $ 802.9 million a year earlier.<\/p>\n
Total revenue fell 8% to $ 6.2 billion, but that’s better than a record 38% drop in the third quarter and better than analysts expect $ 6.06 billion.<\/p>\n
The company estimates that due to the coronavirus pandemic, sales fell by $ 1.2 billion.<\/p>\n
During the fourth quarter, sales in US coffee shops fell by 9%, but in September the figure improved to only 4% lower than last year. Which contributed to the demand for re-appearance in the menu of pumpkin spice latte and plant-based drinks.<\/p>\n
Sales in Chinese stores also showed a renewal and fell by only 3% during the reporting quarter.<\/p>\n
In the fourth quarter, Starbucks opened 480 new stores worldwide. They ended the year with 32,660 stores, almost half of which are in the United States.<\/p>\n
In China, Starbucks opened 260 stores between July and September, increasing the total of over 4,700 stores.<\/p>\n
The company noted that in the US the number of transactions decreased by 25%, but the average check for a visit increased by 21%. The trend in international markets was similar. The behavior of Starbucks customers in the pandemic has changed: part of the demand has shifted from work areas to “bedrooms”, and traffic was higher on weekends.<\/p>\n
Starbucks has said it will close about 400 of its traditional cafes in urban areas to invest in new stores in cities such as New York, Boston and Chicago.<\/p>\n
At the same time, 47% of all transactions were digital orders. The number of active users of the American loyalty program Starbucks increased by 10% to 19.3 million people.<\/p>\n
In the crisis, the Starbucks pandemic continued to pay its dividends, with the Board of Directors raising dividends to $ 0.45.<\/p>\n","protected":false},"featured_media":124659,"menu_order":0,"template":"","newscat":[9],"newstag":[30057,26360,27545,26833,24931,24447,24929,24933,24936],"issues":[],"class_list":["post-124658","news","type-news","status-publish","has-post-thumbnail","hentry","newscat-novosti","newstag-coffee-shops","newstag-coronavirus-pandemic","newstag-quarantine","newstag-starbucks","newstag-kavyarni","newstag-karantyn","newstag-kofejny","newstag-pandemyya-koronavyrusa","newstag-pandemiya-koronavirusu"],"_links":{"self":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news\/124658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media\/124659"}],"wp:attachment":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media?parent=124658"}],"wp:term":[{"taxonomy":"newscat","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newscat?post=124658"},{"taxonomy":"newstag","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newstag?post=124658"},{"taxonomy":"issues","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/issues?post=124658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}