A morning rush is nothing new for a coffee shop, especially not Starbucks. However, the global coffee chain recently found that its struggle to keep up with demand is leading some customers to second-guess purchasing their morning coffee. Starbucks just announced its financial earnings for the second quarter of 2024. Overall, its leadership was upfront in saying that the second quarter of 2024 was not a successful one for the business as a whole. The chain’s U.S. same-store sales declined 3%,...
Throughout the COVID-19 pandemic, various supply chain issues and high inflation, Starbucks could still count on its consumers to buy their iced oat milk lattes. But that economic certainty may be in doubt after the coffee giant reported weaker-than-expected revenue and earnings in the latest quarter.
Earnings are in focus Tuesday afternoon, with companies like Amazon (AMZN), Advanced Micro Devices (AMD), Starbucks (SBUX), and Pinterest (PINS) all set to report their quarterly results. It comes as the Federal Reserve meets for the first day of their two-day meeting. Investors will find out the latest decision on interest rates tomorrow at 2 p.m. ET. Trending tickers on Yahoo Finance include PayPal (PYPL), Eli Lilly (LLY), and MicroStrategy (MSTR). Top guests today include: 3:25 p.m. ET -...
NPR reports: “When Starbucks barista Florentino Escobar first heard that the Supreme Court had taken up a case involving him and six of his co-workers from Memphis, Tenn., he was shocked. ‘I was like, “Wait, the Supreme Court? Like we’re talking the U.S. Supreme Court?”‘ he says. Escobar is one of the Memphis 7, a… Source
Starbucks is set to hold talks with labor representatives from stores that have voted to unionize in a key step towards reaching contracts, both sides said Tuesday. The labor group, Workers United, plans to send representatives of 425 stores that have voted to unionize in the United State to the
A horse has been returned to its owners after it was found wandering in Westchester in an apparent attempt to grab a morning coffee. The horse was found by New Rochelle Police early on Friday morning, May 3 after escaping from its owners in Larchmont. Eventually, after running through Larchmont, the horse made its way to New Rochelle, where it was found in the parking lot of the Starbucks at 80 Huguenot St. across from a Taco Bell, according to the Fairfield-Westchester Professional...
US stocks (^DJI, ^IXIC, ^GSPC) saw their worst monthly performance of this year in April ahead of the Federal Reserve's next interest rate policy decision on Wednesday afternoon. The market is under pressure this morning as equities search for clarity in the Fed's messaging for future FOMC meetings. Amazon (AMZN) posted stellar first-quarter earnings results boosted by its AI and AWS cloud segments. Lastly, Starbucks (SBUX) stock tumbles in Wednesday pre-market trading after the coffee chain...
Starbucks’s artificial intelligence (AI)-powered personalized rewards efforts, aimed at increasing customer frequency and spending, appear to be facing challenges. Following the announcement of “disappointing” second-quarter 2024 results on Tuesday (April. 30), Starbucks shares plummeted by about 8%. This decline was attributed to various factors including a challenging macroeconomic environment, slower-than-expected growth in China (its largest market outside the U.S.), […]
With demand falling across the board, Starbucks reported a fall in same-store sales for the first time in nearly three years, sending its shares down 8% in extended trading. "In a highly challenged environment, this quarter's results do not reflect the power of our brand," CEO Laxman Narasimhan said. Demand in the United States decelerated for a second straight quarter as boycott movements impacted traffic at its stores, while a choppy macro environment weighed on demand for its pricier...
Speeding up service and introducing new beverages are part of efforts to
In February, Starbucks and Workers United said they found a "constructive path forward," marking a major strategic pivot for the coffee giant.
The U.S. Supreme Court appeared to side with Starbucks Tuesday in a case that could make it harder for the federal government to seek injunctions when it suspects a company of interfering in unionization campaigns. Justices noted during oral arguments that Congress requires the National Labor Relations Board to seek such injunctions in federal court and said that gives the courts the duty to consider several factors, including whether the board would ultimately be successful in its...