Starbucks (SBUX) Shares Down 1% on Q4 EPS Miss; Revenues Better Than Expected

Starbucks (NASDAQ: SBUX) shares were trading around 1% lower after-hours following the company’s Q1 results, with EPS of $0.72 missing the Street estimate of $0.79, while revenue growing 19% to $8.1 billion, beating the consensus of $7.97 billion.

The revenue growth was primarily driven by a 13% growth in comparable store sales mainly from lapping the unfavorable impact of business disruption in 2020 due to the COVID-19 pandemic and strength of new U.S. company-operated stores compared to 2020 performance of stores closed as a part of the company’s North America Trade Area Transformation.

The company reported a global comparable store sales growth of 13%, driven by a 10% increase in comparable transactions and a 3% increase in average ticket. 484 net new stores were opened during the quarter, representing a 4% year-over-year unit growth, closing the year with a record 34,317 stores globally.

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