Do you monitor restaurant, grocery, or any retail food sales numbers? If so you know that on July 25 2013, Starbucks delivered its numbers and that they reported double revenue and profit beating the street estimates.
On July 25 2013, Starbucks (SBUX) delivered a Q3 double revenue and profit beat for the Street and stellar worldwide comparable sales (comps) of +8% (+9% in the US). Some analysts, were concerned about the SBUX Q4 forecast of the 5-7% range.
With the weather being some of the hottest in decades, one might think that iced coffee sales would be going through the roof. But if Howard Schultz, founder and CEO of Starbucks, seemed a bit jittery, it wasn’t from too much caffeine.
In January and early February, we had a lot of restaurant earnings and investor conference news, from YUM (NYSE:YUM), Darden (NYSE:DRI) Wendy’s Arby’s Group (NYSE:WEN), Brinker (NYSE:EAT) and McDonald’s (NYSE:MCD).