Overview

• Starbucks posted $9.5 billion in third-quarter revenue, a 4% year-over-year increase that topped analyst forecasts.
• Adjusted earnings per share fell to $0.50, missing the $0.65 consensus as net income declined nearly 47%.
• Global same-store sales fell 2% for the sixth consecutive quarter, while China locations saw a 2% rise in comparable sales.
• The company will invest $500 million in staffing and store upgrades, phase out mobile-order-only outlets and roll out a new café prototype.
• Starbucks is exploring strategic options for its China business, with over 20 parties expressing interest in a stake valued at up to $10 billion.