Services
Why Starbucks Stock Is on Its Way to a New 52-Week High
Published:
Last Updated:
Full-year same-store sales rose 8% in the Americas, 3% in EMEA, and 11% in Asia/Pacific. Globally, same-store sales rose 7%. Starbucks opened 431 new stores (net) in the quarter, bringing the global store count to 22,519.
The company’s CEO said:
Starbucks Q3 fiscal 2015 stands as among the strongest and most remarkable quarters in our over 23 years as a public company. The 4% increase in global transactions we reported equates to our having served an additional 23 million customer occasions in Q3 of this year over last year, clearly evidencing a continuation of the strong momentum we have seen across our business and around the world this fiscal year
For the 2015 fiscal year, Starbucks expects to open a total of about 1,650 net new stores. About 600 will be opened in the Americas and about half of those will be licensed, another 200 are planned for EMEA, primarily licensed, and about 850 in China/Asia Pacific, of which two-thirds are expected to be licensed.
The fiscal year 2015 adjusted EPS forecast now calls for $1.57 to $1.58 on revenue growth of 16% to 18%. The consensus analysts’ estimates call for EPS of $1.57 on revenues of $19.16 billion.
Global comparable store sales growth continues to be targeted in the mid-single digits for the full fiscal year.
Analysts expected a lot from Starbucks and the company delivered. In addition to the quarterly results the company said the board had authorized an increase of 50 million in addition to the 11 million shares remaining in the company’s buyback program.
Starbucks’ shares traded up about 2.4% in after-hours trading at $58.00, above the 52-week range of $35.39 to $57.00. If the price holds after markets open on Friday, the company will have a new 52-week high. Thomson Reuters had a consensus analyst price target of $56.54 before today’s report.
ALSO READ: 10 Cities Where Incomes are Growing (and Shrinking) the Fastest
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.