Coffee retail giant Starbucks Corp. (NASDAQ: SBUX) has just reported earnings of $0.24 non-GAAP EPS and $2.4 billion in revenues. Thomson Reuters had estimates at $0.19 EPS and $2.38 billion in revenues. Unfortunately, same store sales were down by 5%.
The company’s margin was 8.5% and it is on target to trim out $500 million in operating costs this year. Guidance looks fairly solid at $0.74 to $0.75 non-GAAP EPS. The comparable estimates are $0.70 EPS. It is also introducing earnings guidance of 13% to 18% growth for 2010.
This looks like one of those guidance and reports where it is not exactly blowing the doors off the hinges, but it also looks like the company is performing better than many have been expecting.
Shares closed down 1.5% at $14.69 in regular trading and the 52-week trading range is $7.06 to $17.18. The after-hours indications have Starbucks trading up around $15.80.
JON C. OGG
JULY 21, 2009
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
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.