Consumers Are Skipping Starbucks' Half-Priced Drinks -- Market Talk

Dow Jones07-27

1727 ET - Consumers are skipping afternoon pick-me-ups at Starbucks, as surging inflation over the past several years has prompted them to rethink their spending. The coffee chain in its fiscal 3Q has rolled out new products, launched numerous promotions and worked to speed up its service to better meet morning demand, but these actions likely weren't enough to turn its falling same-store sales and earnings around, analysts at Baird say in a research note. They forecast the company, which reports Tuesday, to post same-store sales down 2% and EPS down 4%. (connor.hart@wsj.com; @connorhart22)

(END) Dow Jones Newswires

July 26, 2024 17:27 ET (21:27 GMT)

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