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BRIEF-Starbucks CFO Expects Earnings To Grow To 15% To 20% Annually Over The Next Three Years

BRIEF-Starbucks CFO Expects Earnings To Grow To 15% To 20% Annually Over The Next Three Years

Reuters · 09/13/2022 18:03
BRIEF-Starbucks CFO Expects Earnings To Grow To 15% To 20% Annually Over The Next Three Years

- Starbucks Corp SBUX.O:

  • STARBUCKS CFO - EXPECT EARNINGS TO GROW TO 15% TO 20% ANNUALLY OVER THE NEXT THREE YEARS, UP FROM PREVIOUS GUIDANCE OF 10% TO 12% - INVESTOR DAY

  • STARBUCKS CFO - EXPECTING GLOBAL COMP GROWTH TO REACH THE RANGE OF 7% TO 9% WITH 2023 AT OR ABOVE THE HIGH END OF THE RANGE GIVEN THE TIMING OF RECOVERY IN CHINA

  • STARBUCKS CFO SEES GLOBAL COMP GROWTH NORMALIZING TO THE LOW END OF THE RANGE IN FISCAL 2024 AND FISCAL 2025

  • STARBUCKS CFO SAYS THIS GLOBAL COMP GROWTH IS 3 PERCENTAGE POINTS ABOVE THE MID POINT OF PREVIOUS GUIDANCE RANGE OF 4% TO 5%

  • STARBUCKS CFO - U.S. COMP GROWTH EXPECTED TO INCREASE TO THE RANGE OF 7% TO 9% ANNUALLY OVER THE NEXT THREE YEARS, ALSO UP FROM PREVIOUS GUIDANCE RANGE OF 4% TO 5%

  • STARBUCKS CFO - EXPECTING TO OPEN NEARLY EIGHT STORES PER DAY GIVEN THE PACE OF GLOBAL STORE OPENINGS THAT IS ESTIMATED TO BE ABOUT 45,000 STORES BY THE END OF FISCAL YEAR 2025

  • STARBUCKS CFO - FOR CHINA EXPECTING COMP TO BE OUTSIZED IN FISCAL 2023 AND PORTIONS OF FISCAL 2024 AS WE LAP THE SEVERITY OF THE LOCKDOWNS IN THE MARKET

  • STARBUCKS CFO - AS THE MARKET IN CHINA RECOVERS EXPECT COMP TO NORMALIZE TO A RANGE OF 4% TO 6% IN 2025, UP FROM PREVIOUS FORECAST RANGE OF 2% TO 4%

  • STARBUCKS CFO - RESUMING SHARE BUYBACK PROGRAM

  • STARBUCKS CFO - BETWEEN OUR DIVIDENDS AND OUR SHARE BUYBACKS EXPECT TO RETURN ABOUT 20 BILLION DOLLARS TO SHAREHOLDERS IN THE NEXT THREE YEARS


Further company coverage: SBUX.O


((Reuters.Briefs@thomsonreuters.com;))