Starbucks has disappointed the market with accounts that show a drop in the turnover of its cafes. The company reported that global comparable store s

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2024-05-01 05:30:03

Starbucks has disappointed the market with accounts that show a drop in the turnover of its cafes. The company reported that global comparable store sales decreased 4%. There were 6% fewer transactions, so the 2% increase in the average ticket could only partially offset this. Although Starbucks has been the subject of a boycott related to the Gaza war, what has acted as a real burden has been the Chinese market, where competitors have appeared at competitive prices. Shares have plummeted after the close of the session.

Comparable store sales in North America and the United States decreased 3%, while international sales fell 6%. In China, the decrease was 11%. The company has had to moderate prices due to the new competitive situation and has had an 8% decrease in the average ticket and a 4% decrease in transactions: fewer customers who also spend less.

The group opened 364 net new stores in the second quarter of its fiscal year (January to March), closing the period with 38,951 stores, of which 52% are operated by the company and 48% are franchised. At the end of the second quarter, stores in the United States and China represented 61% of the company's global portfolio, with 16,600 cafes in the United States and 7,093 in China.