Shares of Starbucks have fallen about 8% this year, dragging the company’s market value down to $104 billion.
Shares of Starbucks have fallen about 8% this year, dragging the company's market value down to $104 billion.Looking to fiscal 2024, Wall Street is projecting Starbucks will earn $4.07 per share and report revenue of $39.69 billion, representing 10.6% year-over-year revenue growth.In recent quarters, the coffee giant has reported strong U.S. demand.
But investors have some concerns about the company's second-largest market. China has struggled with an uneven recovery from the pandemic., which runs KFC and Pizza Hut locations there, said Tuesday that sales weakened in late September and didn't improve in October. Looking to fiscal 2024, Wall Street is projecting Starbucks will earn $4.07 per share and report revenue of $39.69 billion, representing 10.6% year-over-year revenue growth, according to LSEG estimates.The company will also be giving an update on its"reinvention" strategy to investors on Thursday afternoon in New York City.
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