starbucks

Starbucks

(SBUX)

NASDAQ

Recommendation:

Buy

Share Price:

USD

Market Cap:

$

Starbucks: Full of Beans, but not quite a Buy

8 November 2022

Starbucks displayed some signs of recovery in their Q4 earnings. As we wrote in our initiation report, this is a “show me” story and management, to their credit, has worked tirelessly to show the market what a turnaround looks like. The company grew revenues 3% YoY to $8.4B, and it grew same-store sales in the U.S 11% YoY. Credit where credit is due – this is an exceptional performance in a very tough environment to do business. However, we think a lot of Starbucks’ performance is due to passing on costs to the consumer and we retain a hold rating on the stock.

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