Starbucks Loses its Sizzle After a Weak Earnings Report
Shares of Starbucks took a dive after delivering weaker-than-expected sales results for the latest quarter. Jason Moser, Analyst at Motley Fool, joined us to break down the numbers.
Global same-store sales rose 2%, below estimates of 3%. Despite raking in over $6 billion in a quarter for the first time, investors were disappointed that the company fell short of the $6.18 billion projected. Moser thinks it is a bit of an overreaction for investors to believe the company is a business in decline. The analyst added that China will continue to be a major growth opportunity for Starbucks. Same-store sales in China grew 6%, while revenue in Q1 grew 30%.
Starbucks added 1.4 million rewards members in the quarter, bringing the total to 14.2 million. With 75 million unique visitors, Moser questions Starbucks' ability to capitalize on the program. He also noted that Kevin Johnson needs to step it up before Wall Street loses confidence in his ability to lead the company.
Oura Ring CEO Tom Hale joins Cheddar to take us inside the comprehensive health tracking device, explains how it works and how it can save your life. Watch!
NASCAR star Bubba Wallace joins Steve Quirk, Chief Brokerage Officer at Robinhood, on the floor of the NYSE to discuss their latest partnership. Watch!
Adam Bierman, author of 'Weed Empire,' talks about the cannabis business in America and how he battled the Department of Justice and investment banks. Watch!
Hoyt McGarity, CEO & President of 8AM Golf, joins Cheddar to discuss TGL and how the technology is changing the game of golf right before our eyes. Watch!
