Here’s everything you need to know about Starbucks’ earnings

FAN Editor

Starbucks is set to report third-quarter earnings after the markets close Thursday.

Here’s what analysts are expecting, based on a Thomson Reuters survey:

  • Earnings per share: 61 cents
  • Revenue: $6.25 billion
  • Same-store sales: 1 percent growth, according to StreetAccount.

The fiscal third quarter has been a bumpy one for the Starbucks, which closed 8,000 of its U.S. locations for a day in May to provide racial bias training to 175,000 employees. The company has taken a number of dramatic steps to restore its image after a store manager in Philadelphia called the police on two black men who asked to use a bathroom — igniting public outrage.

Former CEO Howard Schultz stepped down from his role as executive chairman on June 26 and was succeeded by Myron E. Ullman, the former chairman and CEO of J.C. Penney. CEO Kevin Johnson is expected to continue driving Starbucks’ Roastery and Reserve Bar expansion.

Further spooking investors, Starbucks said in June that it plans to shutter more than 150 company-owned stores in 2019 and decelerate the number of licensed store openings. The company historically closes about 50 company-owned cafes annually. Starbucks also lowered its fiscal third-quarter sales forecast in tandem with this announcement. The company’s fiscal year ends Oct. 1.

Starbucks was in the news again when it said earlier this month it would eliminate single-use plastic straws from all of its cafes globally by 2020. On July 1, Seattle — where the coffee giant is headquartered — became the first U.S. city to ban plastic straws, utensils and cocktail picks. Cold beverages currently account for over half of Starbucks’ drink sales, and so the company goes through more than a billion plastic straws each year at its more than 28,000 stores.

Starbucks shares have fallen by about 10 percent so far this year to around $51 a share. The coffee giant has a market value of about $71.4 billion, compared with Dunkin Brands at $5.9 billion and McDonald’s at $121.7 billion.

— CNBC’s Sarah Whitten contributed to this reporting.

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