Dee-Ann Durbin, Associated Press
Starbucks said Tuesday that it is confident that new products coming next year, including cold foam protein drinks, coconut water-based drinks and baked goods, will help slow the company’s sales.
In the meantime, slow US demand continues to drag the company’s results.
Starbucks reported revenues rose 4% to $9.5 billion in the third quarter. It was better than the expected $9.3 billion Wall Street, according to analysts voted by FactSet.
However, sales in the same store, or where they have been open for at least a year, fell 2% between April and June. This was a bigger drop than Wall Street expected, and it was the sixth straight win that the Seattle-based company reported lower sales in the same store.
Sales in the same store increased in China, Starbucks’ second largest market, but fell 2% in the US
Starbucks is spending a lot of money to turn it around. The big expenditure in the third quarter hosted 14,000 store managers and local leaders at a two-day meeting in Las Vegas.
The company said its net profit fell 47% from April to June to $558 million. Adjusted for one-off items, this revenue fell 50 cents from 46% per share in the quarter. This was lower than the 65 cents analysts had predicted.
Starbucks shares rose 1.8% in after-hours trading.
Original issue: July 29, 2025, 4:36pm EDT
