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Wire

Update: Market Chatter: Starbucks Weighs Japan Business Stake Sale

(Updates with Starbucks' response in the last paragraph)Starbucks (SBUX) is considering various options for its Japanese unit, including a potential stake sale valued at 400 billion yen to 500 billion yen ($2.49 billion to $3.12 billion), Bloomberg reported Wednesday, citing unnamed people familiar with the matter.The report noted that Starbucks has held preliminary conversations with investment banks to evaluate different approaches for its Japanese business.Starbucks declined to comment when reached out to by.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $98.50, Change: $+1.09, Percent Change: +1.12%

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Sectors

Sector Update: Consumer Stocks Mixed Pre-Bell Wednesday

Consumer stocks were mixed pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.6% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.5%.Sea's (SE) Shopee division is eliminating hundreds of developer positions, affecting about 8% of the platform's developer workforce, Bloomberg reported, citing unnamed people familiar with the matter. Shares of Sea were down more than 2% premarket.Chewy (CHWY) stock was down more than 3% even after the company reported higher fiscal Q1 adjusted earnings and net sales.Starbucks (SBUX) is considering various options for its Japanese unit, including a potential stake sale valued at 400 billion yen to 500 billion yen ($2.49 billion to $3.12 billion), Bloomberg reported, citing unnamed people familiar with the matter. Starbucks shares were 0.6% higher pre-bell.

$CHWY$SBUX$SE$XLP$XLY
Sectors

Sector Update: Consumer Stocks Fall in Afternoon Trading

Consumer stocks were lower Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.3%.In corporate news, AutoZone (AZO) reported mixed fiscal Q3 results with earnings topping estimates and revenue falling short. Its shares tumbled past 9%.Starbucks' (SBUX) Korean unit has suffered a "very significant" drop in sales following a controversial marketing campaign, Reuters and other media outlets reported. Starbucks shares fell 1.9%.Dollar Tree (DLTR) may face a modest earnings reset as recent grocery price increases appear to be getting rolled back, while weak shopper response and softer store-level trends may weigh on results, Oppenheimer said in a note Tuesday. Dollar Tree shares were down 2.8%.

$AZO$DLTR$SBUX
Sectors

Sector Update: Consumer Stocks Edge Higher Premarket Tuesday

Consumer stocks were edging higher premarket Tuesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) inactive and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.5%.AutoZone (AZO) shares were down more than 5% even after the company posted higher fiscal Q3 net income and net sales.Starbucks' (SBUX) Korean unit has suffered a "very significant" drop in sales following a controversial marketing campaign, Reuters and other media outlets reported. Starbucks shares were marginally advancing premarket.Miniso (MNSO) stock was 0.2% lower after the company reported a decline in Q1 adjusted earnings.

$AZO$MNSO$SBUX$XLP$XLY
Sectors

Sector Update: Consumer Stocks Mixed Premarket Monday

Consumer stocks were mixed premarket Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.2% lower.Macy's (M) shares were up more than 3% after Berkshire Hathaway (BRK.A) (BRK.B) disclosed a roughly $55 million investment in the company, representing about 3 million shares, or nearly 1.1% of the retailer.Starbucks (SBUX) said it has raised the cap on the maximum amount it will repurchase after investors tendered about $2.6 billion of notes by the early deadline, exceeding its original repurchase capacity. Starbucks stock was 0.2% lower pre-bell.Lululemon Athletica (LULU) sent a letter to shareholders on Monday saying that activist and founder Chip Wilson has "outdated perspectives" and "troubling conflicts of interest," which will derail the company's turnaround plan, CNBC reported, citing materials it reviewed. Lululemon Athletica shares were 0.5% higher premarket.

$BRK.A$BRK.B$LULU$M$SBUX$XLP$XLY
Sectors

Sector Update: Consumer Stocks Softer Late Afternoon

Consumer stocks were lower late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.7%.In corporate news, Canada Goose (GOOS) may struggle to generate meaningful upside in the coming quarters as weak revenue growth and macro uncertainty continue to cloud the outlook, UBS said in a note. Canada Goose shares were down 2.8%.Starbucks (SBUX) said it will cut 300 US support jobs as the coffee giant consolidates regional offices to reduce costs and streamline operations. Its shares were up 0.7%.Magnum Ice Cream (MICC) shares jumped past 10% after Reuters reported that Blackstone (BX) and Clayton, Dubilier & Rice are in the early stages of considering bids for the company.Walt Disney's (DIS) co-owned JioStar, an Indian entertainment joint venture with Reliance, is suing rival Zee Entertainment over allegations it broadcast Bollywood films that JioStar has rights to without authorization, Reuters reported. Disney shares were down 2.5%.

$DIS$GOOS$MICC$SBUX
Sectors

Sector Update: Consumer Stocks Decline Friday Afternoon

Consumer stocks were lower Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.5%.In corporate news, Starbucks (SBUX) said it will cut 300 US support jobs as the coffee giant consolidates regional offices to reduce costs and streamline operations. Its shares were down 0.2%.Magnum Ice Cream (MICC) shares jumped past 10% after Reuters reported that Blackstone (BX) and Clayton, Dubilier & Rice are in the early stages of considering bids for the company.Diageo (DEO) will integrate its Africa and Europe operations into a single division amid an overhaul including major leadership changes, Bloomberg reported. Diageo shares rose 1.7%.

$DEO$MICC$SBUX
Sectors

Sector Update: Consumer

Consumer stocks were lower Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) falling 1.8%.In corporate news, Starbucks (SBUX) said it will cut 300 US support jobs as the coffee giant consolidates regional offices to reduce costs and streamline operations. Shares were down 0.2%.

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Starbucks to Cut 300 US Support Jobs, Consolidate Regional Offices
US Markets

Starbucks to Cut 300 US Support Jobs, Consolidate Regional Offices

Starbucks (SBUX) said Friday that it will cut 300 US support jobs as the coffee giant consolidates regional offices to reduce costs and streamline operations.The company launched its "Back to Starbucks" strategy in September 2024 to revive traffic growth and support long-term margin expansion.Starbucks' fiscal second-quarter results exceeded Wall Street's views last month, while it raised its full-year outlook on the back of momentum in its turnaround efforts."We are taking further action under the Back to Starbucks strategy, building on our strong business momentum and working to return the company to durable, profitable growth," a Starbucks spokesperson toldin an emailed statement. "Leaders have taken a hard look at their respective functions to further sharpen focus, prioritize work, reduce complexity, and lower costs."Starbucks expects to reduce headcount for its international operations too, the spokesperson said."We are streamlining our real estate footprint including consolidating US regional support office space and taking several other steps with leases and lease commitments," according to the statement.The new initiatives will cost $400 million, including $280 million in impairment charges, with the remaining $120 million attributable to employee separation benefits, Starbucks said in a regulatory filing.Most restructuring actions will conclude by the end of this fiscal year, the company said.Last year, Starbucks announced two rounds of layoffs. The first involved 1,100 corporate employees, along with a decision not to hire for several hundred open positions at the time. The other round, announced in September 2025, focused on about 900 non-retail jobs.The company's stock was up 0.4% intraday Friday, and has gained 26% year-to-date.Price: $107.48, Change: $+1.08, Percent Change: +1.02%

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Wire

Update: Starbucks Assessing Locations, Plans Job Cuts Amid Ongoing Restructuring

(Updates with response from a Starbucks spokesperson in the fifth and sixth paragraphs.)Starbucks' (SBUX) board approved reassessing its Starbucks Reserve and Roastery locations and non-retail support facilities, which is expected to entail job cuts, according to a Friday filing.News outlets reported Friday that the move will see the closure of a number of regional support offices and 300 corporate job cuts in the US.The company estimates about $280 million in restructuring charges from the optimization of its locations and $120 million related to employee separation benefits, with a significant portion of the charges to be incurred in fiscal 2026, according to the filing.Starbucks expects to complete majority of the planned actions by the end of this fiscal year, the company said. The moves are part of a wider restructuring plan that is intended to yield $2 billion in cost savings, Starbucks added.A Starbucks spokesperson toldthat the company is taking further actions under its "Back to Starbucks" strategy as it seeks to return to durable, profitable growth. The company is aiming to simplify operations, reduce complexity and lower costs as part of a broader efficiency effort.As part of these measures, Starbucks is eliminating about 300 US support roles and reviewing its international support organization as it shifts toward a more streamlined global licensing model, with additional job impacts expected outside the US. The company is also reducing its real estate footprint, including consolidating regional support offices and reassessing lease commitments, the spokesperson added.Price: $106.28, Change: $-0.13, Percent Change: -0.12%

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Research

Research Alert: CFRA Maintains Sell Opinion On Shares Of Starbucks Corporation

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:SBUX announced layoffs and plans to close non-retail support facilities, expecting $400M of FY 26 (Sep.) restructuring charges: $280M non-cash impairment (Reserve/Roastery locations, support facilities) and $120M cash severance. This continues the 'Back to Starbucks' $2B cost savings plan. While we view cost discipline positively, we maintain our Sell rating and 12-month price target of $82 (30x FY 27 EPS). At $108, shares trade at 40x NTM P/E, embedding a sustained SSS recovery we believe is at risk as comparisons normalize in 2H. Recent SSS strength exceeded estimates, but SBUX is lapping historically weak periods. Q2's margin expansion was encouraging, though we attribute much of the improvement to China JV accounting rather than core operations. Today's restructuring does not alter our view that valuation remains stretched with 24% downside to our target. We would revisit our rating on SSS durability through tougher compares or material multiple compression.

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Wire

Starbucks Assessing Locations, Plans Job Cuts Amid Ongoing Restructuring

Starbucks' (SBUX) board approved reassessing its Starbucks Reserve and Roastery locations and non-retail support facilities, which is expected to entail job cuts, according to a Friday filing.News outlets reported Friday that the move will see the closure of a number of regional support offices and 300 corporate job cuts in the US.The company estimates about $280 million in restructuring charges from the optimization of its locations and $120 million related to employee separation benefits, with a significant portion of the charges to be incurred in fiscal 2026, according to the filing.Starbucks expects to complete majority of the planned actions by the end of this fiscal year, the company said. The moves are part of a wider restructuring plan that is intended to yield $2 billion in cost savings, Starbucks added.Price: $105.81, Change: $-0.59, Percent Change: -0.55%

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Wire

Starbucks Shares Rise After TD Cowen Upgrade

Starbucks (SBUX) shares rose 1% in Thursday afternoon trading after TD Cowen upgraded the stock to buy from hold and raised the price target to $120 from $106.Trading volume stood at more than 4.5 million shares, compared with a daily average of 7.7 million.Price: $107.06, Change: $+1.11, Percent Change: +1.04%

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Research

TD Cowen Upgrades Starbucks to Buy From Hold, Adjusts Price Target to $120 From $106

Starbucks (SBUX) has an average rating of hold and mean price target of $106.19, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Wire

Rothschild & Co Redburn Adjusts Starbucks Price Target to $81 From $74, Maintains Sell Rating

Starbucks (SBUX) has an average rating of overweight and mean price target of $105.88, according to analysts polled by FactSet.Price: $104.75, Change: $-0.75, Percent Change: -0.72%

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Sectors

Sector Update: Consumer Stocks Decline Late Afternoon

Consumer stocks were lower late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.3%.In corporate news, Wingstop (WING) reduced its 2026 domestic same-store sales outlook and reported weaker-than-expected Q1 revenue. Its shares fell 3.6%.Starbucks' (SBUX) fiscal Q2 financial results exceeded Wall Street's views, while the coffee giant raised its full-year outlook on the back of momentum in its turnaround efforts. Its shares jumped past 8%.Etsy's (ETSY) Q1 revenue rose more than Wall Street's expectations, helping the online marketplace swing to earnings. Etsy shares climbed more than 9%.Walmart (WMT) has opened its third owned-and-operated milk processing facility in the US, located in Robinson, Texas, and representing an investment of more than $350 million, the company said Wednesday. Its shares were up 0.1%.

$ETSY$SBUX$WING$WMT
Wire

Starbucks to Sustain Sales Momentum; to Focus on Margins in H2, UBS Says

Starbucks (SBUX) is expected to maintain solid sales momentum on its turnaround strategy, though investor focus is shifting toward margin recovery in H2, UBS said in a note on Wednesday.The brokerage said strong transaction-driven comparable sales growth in Q2 reflected improvements in operations, menu innovation and updated loyalty program.Looking ahead, UBS said continued execution on initiatives such as afternoon beverage platforms, loyalty enhancements, store closures and operational improvements should support sales into H2.UBS also expects margin expansion later in the year, supported by sales leverage, cost savings and easing pressures from tariffs and coffee costs.UBS raised the price target on the stock to $105 from $100 but maintained a neutral rating.Price: $106.10, Change: $+8.82, Percent Change: +9.06%

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Sectors

Sector Update: Consumer Stocks Decline Wednesday Afternoon

Consumer stocks traded lower Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.3%.In corporate news, Starbucks' (SBUX) fiscal Q2 financial results exceeded Wall Street's views, while the coffee giant raised its full-year outlook on the back of momentum in its turnaround efforts. Its shares jumped past 8%.Wingstop (WING) reduced its 2026 domestic same-store sales outlook and reported weaker-than-expected Q1 revenue. Its shares fell 4.4%.Etsy's (ETSY) Q1 revenue rose more than Wall Street's expectations, helping the online marketplace swing to earnings. Etsy shares climbed 8.6%.

$ETSY$SBUX$WING
Wire

Starbucks Faces Margin Risks Despite Strong Start, RBC says

Starbucks (SBUX) is likely to face continued margin pressure in the second half of the year, despite a strong Q1 performance, according to RBC Capital Markets.RBC said that in its view "questions around the durability of comps and the path of margin improvement beyond FY26/ FY27 remain, which were key pillars to our March downgrade thesis, which remains unchanged."The brokerage flagged North America margins as a key area of concern, noting cost pressures from inflation, food mix and higher waste tied to new menu items could continue and weigh on profitability.RBC maintained its sector perform rating and raised price target to $110 from $105.Price: $106.49, Change: $+9.21, Percent Change: +9.47%

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Wire

Starbucks Sustains Sales Momentum in April on Better Execution, Morgan Stanley Says

Starbucks (SBUX) sustained its sales momentum in April, driven by ongoing innovation and better execution despite a dynamic macro landscape, Morgan Stanley said in a Wednesday research report.The company's solid Q2 earnings beat was driven by transaction strength with margin beat partly linked to accounting in the China deal, but North America margins continue to face pressure, analysts wrote.The brokerage raised its Q3 and Q4 comp forecast to 5.7% and 4.7%, respectively. For Q3, it expects EPS of $0.63 and $0.67 for Q4. For the full-year 2026, Morgan Stanley now expects EPS of $2.37 from $2.27 earlier.Operations, staffing, innovation, marketing, and improving the asset base appear to be driving compounding benefits alongside the impacts from cost actions, according to the note.The brokerage said it reiterated its overweight rating on the stock and boosted its price target to $110 per share from $105 earlier.Price: $104.81, Change: $+7.53, Percent Change: +7.74%

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