Starbucks Corp (NASDAQ:SBUX) Earnings Model
Author: Rishi Mendiratta Published: April 13, 2021 8:28pm Category: Earnings Preview (Fiscal 2Q2021)
Notes from the Model Developer: I changed the net new company-operated, licensed stores to increase to 15 and 17 stores because Starbucks will have a high amount of demand post-COVID and will need to open far more stores to meet that demand. I increased the comp-store sales for international and domestic because once jobs open, people will spend more on coffee, and stores will make more money. I increased the restructuring and impairment cost because the cost of making Starbucks post-pandemic friendly and adjusting to normal circumstances will cost a significant amount. I increased the international stores because, in the Q4 earnings call, CEO Kevin Johnson stated that Starbucks would be opening 1,300 stores internationally, 600 of which will be in China.
Disclosure: The author of this article/model has no financial investment or other conflict of interest related to the subject company or other companies discussed. Any views made or implied in the content represent the author’s opinions.