Affected by boycott campaign... Starbucks' revenue falls

Global sales of the US coffee chain Starbucks fell by 3 percent in the April-June period.

Starbucks, which considers the three-month period ending June 30 as its third quarter in its fiscal calendar, has released its financial results.

Accordingly, Starbucks' global comparable store sales decreased by 3 percent during the period in question.

The company's sales in North America declined by 2 percent, and its international sales fell by 7 percent.

EXPECTATIONS WERE AROUND 9 BILLION DOLLARS

Starbucks' total net revenue decreased by 0.6 percent in the April-June period to 9.11 billion dollars. The company's total net revenue was recorded at 9.16 billion dollars in the same period last year.

Market expectations were for the company's revenue to be 9.24 billion dollars during this period.

Starbucks' earnings per share, which were 99 cents in the April-June period of last year, fell to 93 cents in the same period this year.

The company's earnings per share followed a trend in line with market expectations during this period.

AFFECTED BY BOYCOTT

The financial results of Starbucks, one of the companies facing protests and boycott campaigns due to Israel's attacks on Gaza, have been negatively affected in the last two quarters.

The coffee chain had lowered its annual sales forecast in the October-December period last year, partly due to the negative impact of sales at stores in the Middle East.

While the company's revenue decreased by 2 percent in the January-March period, its global sales recorded their first decline since the end of 2020, falling by 4 percent.

News Source: 12punto