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Starbucks is one of many US companies that the SEC has asked about revenue-recognition practices since 2018, when new accounting guidelines began.
The coffee chain cited the lapse of a one-time tax benefit and normalized share repurchasing volume as reasons for the lower EPS growth expectation.
Starbucks is set to report first-quarter earnings after Thursday's closing bell.
Data from Robinhood, a free trading app popular amongst millennials, shows 3,328 positions were added on the platform over the past week. That was the biggest increase for any stock amongst Robinhood users during that time, and moved Starbucks up one spot to the 22nd most-owned stock on the app.
Starbucks gets away with expensive coffee in the morning — but it’s losing out to cheaper competition in the afternoons
Starbucks could be pricing itself out of the market, Bernstein warned clients on Tuesday. The firm says Starbucks coffee is about 38% higher than competitors, which is especially hurtful in the afternoon.
Morgan Stanley's new price target of $59 is now below Wall Street's average target price of $61.72, according to data from Bloomberg, but still 15% above where shares were trading Wednesday.
Starbucks Chairman Howard Schultz is stepping down from his post after more than 30 years at the coffee giant.
Starbucks' beloved Chairman Howard Schultz is stepping down, and the stock is slipping a bit. He had planned on stepping down a month ago, but a company crisis that called for swift action delayed those plans. See what he told the New York Times about his political ambitions.
The bank says the coffee chain should be able to return to healthy same-store sales levels this year.
The former coffee CEO is optimistic about blockchain — but had harsh words for the flagship cryptocurrency.