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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%

$SBUX
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%

$SBUX
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.

$SBUX
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%

$SBUX
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%

$SBUX
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://finwires.com/en/contact)

$SBUX
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%

$SBUX
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%

$SBUX
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%

$SBUX
Wire

Bernstein Adjusts Starbucks Price Target to $110 From $100, Maintains Outperform Rating

Bernstein Adjusts Starbucks Price Target to $110 From $100, Maintains Outperform Rating

$SBUX
US Markets

Equity Futures Rise Ahead of Mega-Cap Tech Earnings, Fed Decision

US equity futures were pointing higher Wednesday as traders awaited the latest quarterly results of four mega-cap technology companies and the Federal Reserve's monetary policy decision.The Nasdaq was up 0.4% before the bell, while the S&P 500 and the Dow Jones Industrial Average rose 0.1% each. The indexes closed the previous trading session in the red.Tech giants Alphabet (GOOG, GOOGL), Microsoft (MSFT), Amazon (AMZN), and Meta Platforms (META) are scheduled to release quarterly results after the markets close, while AbbVie (ABBV) and General Dynamics (GD) will post before the bell, among others.The Fed's monetary policy committee will announce its latest decision on interest rates later in the day. Markets widely expect the central bank to keep its benchmark lending rate unchanged for a third consecutive meeting. Fed Chair Jerome Powell will hold a press conference at 2:30 pm ET."Investors will be listening closely for an updated assessment of economic conditions, particularly inflation, in the wake of the ongoing conflict overseas," Stifel said in a note. "A rising level of concern could signal a willingness to hold rates steady for a prolonged period of time or even open up the possibility of a rate hike, while any mention of a temporary or expected 'transitory' impact will likely bolster expectations for a potential return to rate cuts."The Senate Banking Committee is set to vote Wednesday on Trump's nominee for the next Fed chair, Kevin Warsh, Reuters reported.Treasury yields were trending upwards in premarket action, with the two-year rate advancing 1.7 basis points to 3.86% and the 10-year rate adding one basis point to 4.36%.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am ET. Data on durable goods orders for March and housing starts and permits reports for February and March are out at 8:30 am. The weekly EIA domestic petroleum inventories report posts at 10:30 am.West Texas Intermediate crude oil rose 3.4% to $103.32 a barrel before the opening bell, while Brent gained 2.9% to $114.35.US President Donald Trump has told aides to prepare for an extended blockade of Iran to pressure Tehran over its nuclear program, The Wall Street Journal reported, citing US officials. Trump believes resuming strikes on Iran or ending the conflict would carry higher risks than maintaining the US blockade of Iranian ports, which began recently, the report said.Mediators in Pakistan expect to get a revised proposal from Iran to end the war in the next few days, CNN reported, citing sources.The United Arab Emirates on Tuesday said it has decided to leave the Organization of the Petroleum Exporting Countries. The move would make the cartel "structurally weaker" as the UAE is one of the few OPEC members that have spare capacity, Rystad Energy said in a note.Shares of NXP Semiconductors (NXPI) and Seagate (STX) rose 18% each before the bell following their latest quarterly results. Starbucks (SBUX) was up 4.1% as the coffee giant raised its full-year outlook late Tuesday.Robinhood Markets (HOOD) plunged 11% after its quarterly results fell short of Wall Street's estimates overnight.Gold slipped 0.6% to $4,580 per troy ounce, while bitcoin gained 1.7% to $77,547.

Dow JonesNasdaq CompositeS&P 500$ABBV$AMZN$GD$GOOG$GOOGL$HOOD$META$MSFT$NXPI$SBUX$STX
Research

Research Alert: CFRA Reiterates 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:We raise our price target by $8 to $82, 30x our FY 27 (Sep.) EPS estimate and in line with its 10-year average forward multiple. We raise our FY 26 estimate to $2.26 from $2.21 and FY 27's to $2.74 from $2.64. Following FQ2 results that showed strong global comp growth acceleration to 6.2% (+710 bps), we reiterate our Sell opinion. Shares trade at 30x forward earnings, in line with their long-term average, suggesting the market expects this momentum through FY 27. Our model assumes SBUX meets its 5% global comp growth goal in FY 26, with margin expansion due to waning store investment costs, lower interest expenses, and improved international segment margins from the Boyu Capital China joint venture. We believe it will be difficult to sustain operating margin improvement on comp growth alone, with new store growth of just 0.8% in FQ3 potentially not inflecting higher until FY 28. At current valuation levels reflecting optimistic assumptions, we see limited upside and maintain our Sell rating.

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Research

Research Alert: Sbux: Strong Fq2 Beat On U.s. Comp Acceleration; Raises Fy 26 Guidance

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:SBUX reported Q2 FY 26 adjusted EPS of $0.50 (+22% Y/Y), beating the $0.45 consensus, while revenue of $9.53B (+8.8% Y/Y) exceeded the $9.21B estimate. Global comparable store sales growth of 6.2% Y/Y represented a significant 710-bp acceleration, due to transaction growth (+3.8%) and average ticket growth (+2.3%). We think results suggest SBUX is gaining traction with U.S. consumers following menu changes, loyalty program updates, and store location overhauls. Management raised FY 26 guidance, now expecting global and U.S. comps growth of 5%+ and EPS of $2.25-$2.45. Adjusted operating margins expanded 120 bps to 9.4%, the first expansion since Q1 FY 24, suggesting the company is exiting the higher pace of store investments from the Green Apron Service model. The China JV with Boyu Capital provides a strategic framework for growth in that market. We believe the focus on transaction over ticket growth suggests a volume-driven recovery strategy that could support longer-term market share gains.

$SBUX
US Markets

Starbucks Tops Quarterly Views, Lifts Full-Year Outlook

Starbucks' (SBUX) fiscal second-quarter results exceeded Wall Street's views, while the coffee giant raised its full-year outlook on the back of momentum in its turnaround efforts.Non-GAAP earnings rose to $0.50 per share from $0.41 a year earlier, compared with the consensus on FactSet of $0.43. Revenue increased 8.8% to $9.53 billion, higher than the Street's estimate of $9.17 billion.Global comparable sales grew 6.2% in the quarter that ended March 29, driven by transaction and average ticket gains. The US same store sales climbed 7.1%.Starbucks' shares were up 5% in after-hours trading."Our second quarter marked the turn in our turnaround as our Back to Starbucks plan drove both top and bottom line growth," Chief Executive Brian Niccol said in a statement.For the current fiscal year, the company expects adjusted EPS of $2.25 to $2.45, compared with an earlier guidance of $2.15 to $2.40. Analysts are looking for $2.29.Starbucks increased its growth outlook for global and US comparable sales to at least 5% from 3% or greater previously expected."We've been clear that topline improvement would come first, with earnings growth to follow," Chief Financial Officer Cathy Smith said. "We have more work to do, but we're pleased to see the combination of our comp growth and cost discipline starting to show up in margins."The company launched its "Back to Starbucks" strategy in September 2024 to revive traffic growth and support long-term margin expansion. The company's first quarter marked the first positive comparable sales in eight quarters, Tigress Financial Partners said earlier this month.Starbucks' shares gained about 16% so far this year through Tuesday close.

$SBUX
US Markets

Stocks Mostly Down Pre-Bell as Traders Monitor Developments on US-Iran Negotiations; Fed Policy Meeting on Deck

US equity futures were mostly pointing lower on Tuesday as traders monitor developments on negotiations between the US and Iran and await the Federal Reserve's latest decision on interest rates, along with a fresh round of corporate earnings.The S&P 500 decreased 0.2% and the Nasdaq declined 0.6%, while the Dow Jones Industrial Average inclined 0.3% in premarket activity. The Nasdaq and S&P 500 finished Monday trading with new closing highs for a second consecutive session, while the Dow ended in the red.White House Press Secretary Karoline Leavitt reportedly said Monday that President Donald Trump reviewed a new proposal from Iran to reopen the crucial Strait of Hormuz with national security officials, according to Bloomberg News. Trump has made his "red lines" extremely clear with respect to Iran and will address the matter "very soon," Leavitt said.Tehran recently submitted a proposal to reopen the Strait of Hormuz and delay talks on uranium enrichment, Axios reported, citing a US official and two other sources.West Texas Intermediate crude oil rose 3.5% to $99.73 a barrel before the opening bell, while Brent gained 2.8% to $111.28.The Fed's monetary policy committee is set to kick off its meeting on interest rates today, with a decision due tomorrow. Markets widely expect the central bank to keep its benchmark lending rate unchanged for a third consecutive meeting, according to the CME FedWatch tool.With the Federal Open Market Committee's decision unlikely to surprise, the market is expected to focus on the policy statement and post-meeting remarks of Chair Jerome Powell, said David Doyle, head of economics at Macquarie Group."Given that elevated oil prices have persisted for nearly two months now, future guidance may shift somewhat," he said in a Monday report e-mailed to. "This would be in contrast to March where there were limited changes made. Our view remains that the next policy move is likely to be a hike with the most likely timing in (the first half of 2027)."Treasury yields were trending upwards in premarket action, with the two-year rate advancing 1.9 basis points to 3.82% and the 10-year rate adding 1.8 basis points to 4.35%.Coca-Cola (KO), S&P Global (SPGI), Spotify Technology (SPOT), United Parcel Service (UPS), Sherwin-Williams (SHW), Hilton Worldwide (HLT) and General Motors (GM) are scheduled to release their latest financial results before the bell, among others. Visa (V), T-Mobile US (TMUS) and Starbucks (SBUX) post earnings after the markets close.Shares of Snap (SNAP) nudged down 0.2% pre-bell after the social media company finished the previous session with a 7.3% jump. Cadence Design Systems (CDNS) moved 0.4% lower as the computational software company announced its latest quarterly results. Oracle (ORCL) fell 5.5%.Tuesday's economic calendar has the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for February, at 9 am ET. The consumer confidence report for April is out at 10 am, along with the Richmond Fed manufacturing index for the same month.Gold dropped 1.4% to $4,626 per troy ounce, while bitcoin ticked down 0.2% to $76,604.

Dow JonesNasdaq CompositeS&P 500$CDNS$GM$HLT$KO$ORCL$SBUX$SHW$SNAP$SPGI$SPOT$TMUS$UPS$V
US Markets

Restaurant Trends Likely Slowed to Exit First Quarter, UBS Says

Strong underlying trends across the US restaurant sector likely slowed toward the end of the first quarter, with an uncertain and a weak consumer environment expected to drive conservative guidance, UBS Securities said in a note on Monday."We expect (first-quarter) results to highlight generally solid underlying trends across much of the sector, but anticipate slower trends to exit the quarter and into (the second quarter so far)," UBS analyst Dennis Geiger said in the note.Management commentary will be a key focus given the impact of holiday calendar shifts, tax rebates and elevated gas prices, Geiger said. Energy prices have spiked because of the US-Israel war with Iran that has disrupted shipments through the Strait of Hormuz, a critical shipping route."We anticipate still generally conservative (2026) guidance given above (average) uncertainty in the industry backdrop," Geiger wrote.US consumer sentiment improved from an initial April estimate, but remained at a record low as near-term inflation expectations logged the biggest monthly increase in a year, final University of Michigan survey results showed Friday."Sentiment is unlikely to improve unless supply constraints are lifted or energy costs decline," according to the UBS note.Retail sales at restaurants and bars almost stalled sequentially in March, government data showed last week.Results across restaurants should largely be positive, especially when excluding the impacts of weather conditions, but "performance bifurcation among brands should remain reasonably wide again" during this reporting cycle, Geiger wrote.Starbucks' (SBUX) investors expect the company to lift its US same store sales target for this year following a second-quarter beat, according to UBS. Wingstop (WING) is seen lowering its comparable sales outlook after reporting a bigger-than-expected decline in the first quarter.The outlook for Cheesecake Factory (CAKE) and Chipotle Mexican Grill (CMG) will likely be maintained.Price: $98.64, Change: $-0.03, Percent Change: -0.03%

$CAKE$CMG$SBUX$WING
Wire

Restaurant Stocks Trail Market Amid Soft Demand, Early Q2 Volatility, BofA Says

Restaurant stocks are trailing the broader market as Q2 gets underway, with rising gasoline prices and softer demand weighing on the group, BofA Securities said Friday in a report.Same-store sales improved in Q1 despite adverse weather, while early April trends are difficult to interpret because Easter fell earlier this year, typically slowing restaurant traffic, the report said.Higher fuel costs are squeezing budgets and margins after investors had expected stronger spending helped by tax refunds, BofA said. Restaurants showing steady customer traffic and clear earnings momentum should stand out, the report said.In coverage of 19 companies, BofA cut its price target on Chipotle Mexican Grill (CMG) stock to $50 from $53, citing adjustments to its long-term earnings model tied to recent stock volatility. The company remains a strong brand with meaningful long-term earnings potential, the report said.BofA raised its price target on Starbucks (SBUX) stock to $130 from $120. The coffee chain is working to improve store operations and customer service, and these efforts could help stabilize results and support a recovery as the year progresses, the report said.BofA boosted its price target on Restaurant Brands International (QSR) stock to $74 from $63, pointing to improvements across its major chains. Better marketing and store upgrades, particularly at Burger King, may help drive steadier sales, the report said.Chipotle shares rose 0.5% in Friday trading, Starbucks fell 0.6%, and Restaurant Brands eased 0.1%.Price: $34.10, Change: $+0.20, Percent Change: +0.58%

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