In a saga of economic upheaval, Starbucks unveils a grim reality: consumer transactions plummet, revenues falter, and job cuts soar to record highs. As the ominous shadow of uncertainty looms large, the once bustling landscape of consumer confidence now stands at its lowest ebb since 2022, echoing the foreboding whispers of a storm on the horizon.
Consumers weren’t kidding given what @Starbucks just reported “Pullback by consumers was widespread, w/overall transactions sinking 6% & retreating in each of company’s geographic segments. Consolidated net revenues fell 1.8% to $8.6B”
Same store sales -4% v est -1.5%@business https://t.co/Ht0oGq4TRT
— Danielle DiMartino Booth (@DiMartinoBooth) April 30, 2024
This also won't help consumer spending https://t.co/eQJeT39mUQ
— Melody Wright (@m3_melody) April 30, 2024
US consumer confidence hits lowest level since July 2022
https://finance.yahoo.com/news/us-consumer-confidence-hits-lowest-level-since-july-2022-151304354.html
The pain that Powell warned about is just starting to hit as my good pal @DonMiami3 says “respect the lag” pic.twitter.com/QpCb3g5y5M
— The Coastal Journal (@1CoastalJournal) April 20, 2024
Amazon beats earnings
EPS: $0.98 vs $0.82 estimated
SALES: $143.3B vs $142.5B estOutlook disappoints:
Q2 Sales: $144B-$149B vs $150.07B est— Financelot (@FinanceLancelot) April 30, 2024