Starbucks ( (SBUX) ) has provided an update.
Starbucks reported a challenging fiscal year 2024, with global store sales down 2% and net revenues slightly up by 1%. The decline was primarily due to decreased transactions in North America and China, despite efforts to boost customer engagement through promotions. The company is pausing its 2025 guidance to reassess strategies under its new leadership, aiming for long-term growth. Starbucks remains committed to shareholder value, evidenced by a dividend increase, and is set on revamping its strategy with the ‘Back to Starbucks’ plan for future success.
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