Making US AI Policy The Global Standard
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
15 minutes ago
- Yahoo
Starbucks set to report 6th straight US sales decline as CEO Brian Niccol continues turnaround efforts
Starbucks (SBUX) is set to report results for its fiscal third quarter after the market close on Tuesday as CEO Brian Niccol continues turnaround efforts and the company is expected to extend its US sales slump while facing an uncertain consumer environment. Wall Street expects same-store sales to fall 1.5%, per Bloomberg data, which would mark the sixth consecutive quarter of declining sales and an acceleration from the previous quarter's 1% drop. US same-store sales are expected to fall 2.5% with a 4.5% decline in traffic. Analysts expect same-store sales in China will rise 2.1% in the quarter, marking the second straight quarter of positive growth for China as the company seeks out a partner in the region. Earlier this month, the company told Yahoo Finance it was "looking for a strategic partner with like-minded values ... and [wants] to retain a meaningful stake in the business." Adjusted earnings are expected to fall roughly 30% from a year ago to $0.65. Revenue is forecast to grow roughly 2% to $9.29 billion. Starbucks stock is up around 3% year to date, trailing behind the S&P 500's (^GSPC) 8.5% gain. Read more: Live coverage of corporate earnings Since joining the company last fall, Niccol has tried to change the fortunes of the coffee chain by cutting staff earlier this year and announcing plans this month to require more staff to be in the office four days per week. "While the magnitude of the savings offset remains in question, management was clear that the corporate cost structure of the business would continue to be closely examined to accommodate the necessary in-store and marketing investments that drive transaction growth," Stifel analyst Chris O'Cull wrote in a note to clients. CFO Cathy Smith told analysts on Starbucks' second quarter earnings call that she expected the company's third quarter sales to "follow normal seasonality" but did not provide a formal outlook. The company has also incentivized its management team to more aggressively turn around the business, offering executives performance-based stock grants focused on cutting costs. Wall Street will also be looking to hear more about Starbucks' new labor model in the US, innovations like its SummerBerry Refreshers and Iced Horchata Oatmilk Shaken Espresso, AI-powered assistants on in-store tablets, and the impact of price changes for drink modifications and app updates. Brooke DiPalma is a senior reporter for Yahoo Finance. Follow her on X at @BrookeDiPalma or email her at bdipalma@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
18 minutes ago
- Bloomberg
Robots Dance, Box, and Play Piano at China's AI Summit
Bloomberg's Caroline Hyde and Ed Ludlow discuss the artificial intelligence robotics on display at China's big AI summit and how these machines compare to what the US is developing. (Source: Bloomberg)
Bloomberg
18 minutes ago
- Bloomberg
Trump Dials Up Pressure on Russia With Tariff Risk in Background
This is Washington Edition, the newsletter about money, power and politics in the nation's capital. Every Monday, Bloomberg Intelligence senior analyst Nathan Dean gives his insights into what's been happening and what's coming up in the nooks and crannies of government and markets. Sign up here and follow us at @bpolitics. Email our editors here. When I drive into work in the morning, I often listen to music from the likes of Billy Joel, Madonna, Green Day, Metallica. Great songs that my son labeled as 'old man' music yesterday as he failed in his case for why I should play ' Soda Pop' from KPop Demon Hunters for the 153rd time. No deal, he had to suffer through Boyz II Men.
