Starbucks (NASDAQ: SBUX) reports that sales from comparable stores worldwide fell 40% during the quarter, compared to -42.8% by consensus. The average number of tickets increased by 23% during the quarter, and the growth of transactions was -51%.
Compared to the consensus expectation of a 43% decline, comparable sales in the Americas decreased 41%. The international comparison decreased by 37% compared to the -42.5% consensus.
Active membership in Starbucks Rewards in the U.S. fell 5% to $ 16.3 million during the quarter. Due to the reduced frequency of customers, primarily due to the temporary closure of stores and other effects related to the COVID-19 outbreak.
The company’s consolidated operating margin decreased to -12.6% of sales, compared to 18.3% a year ago.
Looking ahead, Starbucks expects FY20’s comparable sales growth to increase from -12% to -17% and EPS from $ 0.83 to $ 0.98, compared to the $ 0.81 consensus.
Starbucks has a conference call scheduled for 5 p.m. ET.
SBUX + 2.10% AH up to $ 76.20. The stocks follow the S&P 500 index and retail sales throughout the year.
Previously: Starbucks EPS Exceeds $ 0.15, Exceeds Revenue (July 28)