MCD - Starbucks Corporation: Lowering Price Target To Reflect Weaker Long-Term Growth Outlook
Investment Conclusion
Starbucks Corporation (SBUX) reported highly disappointing F3Q2020 financial results. The company experienced significant declines in retail sales, revenues, operating income, earnings per share, and number of members enrolled in its loyalty program. Given the enormity of the losses across the board, it appears that retail sales attributed to drive-throughs, mobile order and pay, delivery, and loyalty were not fruitful enough for SBUX as they were for its key competitor, Dunkin' Brands (DNKN).
However, given that most SBUX stores are likely to remain open over subsequent quarters as compared to