Starbucks stock jumps as coffee giant raises full-year outlook - CNBC

What the report says

CNBC reported that Starbucks shares rose about 3% Thursday after the company beat fiscal third-quarter earnings and revenue expectations and lifted its full-year forecast. For the quarter ended June 28, Starbucks reported adjusted earnings of 85 cents per share on revenue of $9.32 billion, ahead of LSEG analyst estimates cited by CNBC of 66 cents per share and $9.16 billion in revenue.

The coffee chain now expects fiscal 2026 adjusted earnings per share of $2.55 to $2.65, up from a prior range of $2.25 to $2.45. It also raised its same-store sales outlook, projecting global growth near 6% and U.S. growth above 6%, compared with earlier expectations of at least 5% for both measures. Starbucks’ same-store sales rose 7.9% in the quarter, above StreetAccount’s 6% estimate, while North American same-store sales increased 8.1% and traffic rose 4.5%.

The results mark Starbucks’ fourth consecutive quarter of same-store sales growth under CEO Brian Niccol, whose “Back to Starbucks” strategy has emphasized faster service, more inviting cafes, menu changes and marketing. Niccol told CNBC that renovations, menu improvements and brand messaging have helped improve consumer perceptions. The company also said Refreshers revenue grew by a double-digit percentage and that it will test sparkling “spritzers” versions in selected markets.

CNBC noted that net sales still fell 1% to $9.3 billion, reflecting Starbucks’ sale of a controlling stake in its China business through a joint venture with Boyu Capital. Starbucks also surpassed 1,000 cafe renovations and now aims for at least 1,500 by fiscal year-end, while reviewing its North American store base for possible further closures.