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Starbucks expected to post another solid quarter with sustained turnaround momentum
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Starbucks posted same-store sales growth of 7.9%, more than the 5.7% growth Wall Street expected, according to Bloomberg data, and above the 6.2% jump seen in Q2.
Last year, the company saw a 2% decline in overall same-store sales growth in the third quarter.
The company expects US same-store sales to be up 6.5% or higher in the fourth quarter.
For the year, Starbucks expects US same-store sales growth to be "a little more than" 6% and global same-store sales growth near 6%, Smith said.
That's above previous expectations for global and US comparable store sales growth of more than 5%, which had already been revised up from guidance of 3% or greater.