lotterypowerballjackpot| Is the "coffee brother" no longer fragrant? Starbucks Q2 performance fell far short of expectations, falling nearly 12% after hours

On the morning of May 1st, Beijing time, Starbucks (SBUX)LotterypowerballjackpotUs) announce the results for the second quarter. In addition, Starbucks will launch a similar pearl milk tea in the summer of 2024LotterypowerballjackpotIt's a drink. In terms of shares, Starbucks U. S. stocks fell nearly 12% in after-hours trading.

Starbucks' revenue, profit and same-store sales growth fell short of market expectations due to reduced customer patronage and order size, according to Starbucks' results for the second quarter of 2024. CEO Laxman Narasimhan called the current "a challenging environment" on the earnings call, citing macroeconomic resistance and pressure on consumers as the main challenges.

Revenue in the second quarter fell 2 per cent year-on-year to $8.6 billion, while adjusted earnings per share fell 8 per cent to zero, according to the results.Lotterypowerballjackpot.68 dollars. Global same-store sales fell 4 per cent year-on-year and transaction volume fell 6 per cent, despite an increase in average consumptionLotterypowerballjackpot2%, but still failed to fully offset the impact of the above-mentioned decline. As a result, the coffee chain's shares fell more than 12 per cent in after-hours trading.

To boost sales, Starbucks tried a series of new strategies, including afternoon promotions and the launch of new products such as lavender lattes, but the results showed that these measures did not significantly improve performance. In addition, the company's same-store sales in North America fell by 3%, and passenger traffic and ticket sales also declined to varying degrees.

Starbucks also faces challenges in its international business, especially in China, where same-store sales fell sharply by 11 per cent. Narasimhan explained the trend on a conference call, noting that it was mainly affected by the occasional decline in customers, changes in holiday patterns and the normalization of customer behavior after the market reopened last year.

In view of these challenges, Starbucks has revised its growth forecast for 2024 for the third time. The company now expects global revenue growth to be in the low single digits, well below its previous forecast range of 7% to 10%. At the same time, global and US same-store sales are expected to decline in low single digits or flat, while same-store sales in China are expected to decline in single digits.

Compared with previous Wall Street estimates, Starbucks' adjusted earnings per share, revenue and same-store sales growth and other key indicators fell short of expectations.