BROS - Starbucks Earnings: Why I Sold At A Loss And Moved On
2024-05-03 17:44:48 ET
Summary
- Starbucks reported concerning earnings, leaving investors puzzled regarding one of the most highly recognized brands in the world.
- The company could reassure investors through a buyback, but I'll show why this won't likely happen.
- I will go over my investment in Starbucks and explain why I am no longer invested in the company.
Starbucks' Misses Earnings
Starbucks Corporation ( SBUX ) missed earnings so badly that I was caught off guard, though I had become more weary in the past few months. "Unexpected pressure on locational customers, choppiness in China, challenges in the Middle East", with these three reasons Mr. Narasimhan, Starbucks' CEO, went on CNBC to explain right after the company's earnings report was released, what went wrong during this very "tough quarter".
Laxman Narismhan was appointed CEO starting April 1st, 2023. This means he has been in charge of the company for a full year and is thus accountable for this report....
Starbucks Earnings: Why I Sold At A Loss And Moved On