Starbucks (SBUX) turned in an OK performance and its stock moved only a little over 2% up in pre-market trading.
Revenue rose from $1.66 billion in the quarter a year ago to $2.01 billion, up. But, earnings rose only 10.6% to $243 million.
Sales at coffee shops open at least 13 months, a key retail measure known as same-store sales, rose 4 percent. The company opened 668 new stories during the period
The market was relieved, but it was not heartened.
At this point, the market will need to see more than a 4% gain in same-store sales to drive the shares much higher. Even with the small rally after the report, Starbucks shares are under $28 on a 52-week high/low of $40.01/$25.22. Those are hardly growth stock numbers.
But, for now, Starbucks is not a growth stock.
Douglas A. McIntyre
Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.