Starbucks Expects Strong Earnings Ahead in 2021, SBUX Stock Jumps 4%
Dec 10 2020 · 13:11 UTC by Bhushan Akolkar · 3 min read
Photo: Pixabay
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As the world prepares for the COVID-19 vaccine distribution, Starbucks is expecting faster growth in 2021 and the start of fiscal 2020. The company is also reworking its strategy for new locations.
Retail coffee giant Starbucks Corporation (NASDAQ: SBUX) is getting back on track as it projects a strong rebound by the year 2022. Starbucks CFO Pat Grismer has reiterated his forecast for the adjusted earnings per share from $2.70 to $2.90. By the beginning of fiscal 2022 i.e. October next year, the company is expecting growth over 20%.