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Taylor Swift sets new record for album sales with vinyl reissue
Taylor Swift‘s 2023 album Lover: Live From Paris was recently reissued on vinyl, leading to it reentering the Billboard Top 200 at #2. It also let Taylor snatch a new chart record.
The album debuted at #1 on Billboard’s Top Album Sales chart, which ranks albums based on traditional album sales, as opposed to streaming or downloading. That marks her 15th chart-topper on that tally, which means she passes Jay-Z for the most number ones on that chart. The rapper scored 14 number ones on that tally, which has existed for 33 years, between 1998 and 2017.
The original version of Lover: Live From Paris came out as a limited-edition heart-shaped vinyl record that was only available through Taylor’s online store. At the time, it peaked at #58 on the Billboard 200 and #5 on the Top Album Sales chart. It was recorded in September 2019 in Paris and was the last live show she performed before the Eras Tour started in 2023.
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In a move that has shocked the music industry, Taylor Swift has set a new record for album sales with the reissue of her hit album “Fearless” on vinyl. The reissue has been met with overwhelming demand from fans, with sales skyrocketing and breaking all previous records for vinyl album sales.Fans have been clamoring to get their hands on the limited edition reissue, which features never-before-heard tracks and exclusive artwork. Swift’s loyal fanbase has been eagerly snapping up copies, making this reissue one of the most successful album releases in recent history.
With this incredible feat, Taylor Swift has once again proven herself to be a powerhouse in the music industry. Her ability to connect with fans and create music that resonates with people of all ages has solidified her status as one of the top artists of our time.
Congratulations to Taylor Swift on this amazing accomplishment! It’s clear that her talent and creativity know no bounds, and we can’t wait to see what she has in store for us next.
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Taylor Swift, vinyl reissue, album sales, new record, music industry, Taylor Swift news, record-breaking sales, music vinyl, Taylor Swift reissue, pop music, Taylor Swift albums
#Taylor #Swift #sets #record #album #sales #vinyl #reissue4 Ports Hub USB 3.0 High Speed Adapter Multi Splitter Sales Promotion
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Best Presidents’ Day sales 2025 — I found OLED TV deals from $599, $70 off Apple Watch 10 and more
Presidents’ Day sales are on the way. As the first major retail event of the year, Presidents’ Day is a great time to snag deals on OLED TVs, laptops, mattresses or anything else you didn’t manage to pick up over last year’s holiday shopping period.
I’m a deals writer for Tom’s Guide, and this is my third year covering Presidents’ Day sales. There will be some great deals out there, as well as a bunch of mediocre ones, but I’ll be by your side picking the cream of the deals from the crop. I’ll only share products that we’ve tested or those that come from brands we trust.
One of my favorite deals right now is the LG 48″ B4 4K OLED TV for $599 at Best Buy. At $200 off, this is one of the cheapest OLED TV deals you’ll find and a total steal. Or, if you want the best TV we’ve reviewed, right now the Hisense 65″ U8N 4K OLED TV is on sale for $899 at Amazon.
In addition, Amazon is offering some awesome discounts on Apple products, including $70 off the Apple Watch 10 and $100 off the new iPad mini.
Stay tuned to Tom’s Guide as I’ll keep bringing you the best Presidents’ Day deals as they come in. And don’t forget to check out our Presidents’ Day mattress sales coverage, too.
Best Presidents’ Day sales
Quick Links
My favorite Presidents’ Day sales
TVs
Mattresses
Apparel
Apple
Headphones
Fitness
Appliances
Phones
Laptops
When is Presidents’ Day 2025?
Presidents’ Day 2025 will fall on Monday, February 17. That’s three days after Valentine’s Day 2025. However, in terms of sales, Presidents’ Day sales tend to gravitate toward tech and home deals, whereas Valentine’s Day sales offer discounts on flowers and jewelery.
What should I buy on Presidents’ Day?
TVs will see some of the biggest discounts on Presidents’ Day. Last year, smart TVs dropped as low as $64, whereas OLED TVs dropped to $599. Kitchen appliances — both large and small — will also enjoy steep price cuts. Expect to see deals on major brands like KitchenAid, Ninja, InstantPot, and Nespresso.
Are there mattress sales on Presidents’ Day?
We expect to see a wide range of furniture sales on Presidents’ Day. However, Presidents Day mattress sales will play the biggest role come early February. Mattress manufacturers like Purple, Casper, Tempur-Pedic, and Nectar will offer their first major sales of the year. In terms of discounts, you can expect to see mattress sales that take from $100 to $500 off beds in our best mattress guide.
Looking for the best Presidents’ Day sales in 2025? Look no further! I’ve scoured the internet and found some amazing deals that you won’t want to miss out on. From OLED TV deals starting at just $599 to $70 off the latest Apple Watch 10, there’s something for everyone.If you’ve been eyeing a new TV, now is the perfect time to upgrade to an OLED model. With prices starting at just $599, you can get stunning picture quality at a fraction of the cost. Plus, with Presidents’ Day sales in full swing, you can save even more on top brands like Sony, LG, and Samsung.
And if you’re in the market for a new smartwatch, look no further than the Apple Watch 10. With $70 off, you can get all the latest features and technology at an unbeatable price. From fitness tracking to notifications and more, the Apple Watch 10 has everything you need to stay connected and on top of your health and wellness goals.
But that’s not all – there are plenty of other amazing deals to take advantage of this Presidents’ Day. From laptops and appliances to home decor and more, now is the perfect time to score big savings on all your favorite brands.
So don’t wait – these deals won’t last long! Head to your favorite retailers or shop online now to take advantage of the best Presidents’ Day sales of 2025.
Tags:
Presidents’ Day sales, 2025 deals, OLED TV sale, Apple Watch discount, tech deals, limited time offers, holiday shopping, savings, electronic sales, discounted products, special promotions, top deals, Presidents’ Day discounts.
#Presidents #Day #sales #OLED #deals #Apple #WatchBest Presidents’ Day sales 2025 — I found OLED TV deals from $599, $70 off Apple Watch 10 and more
Presidents’ Day sales are on the way. As the first major retail event of the year, Presidents’ Day is a great time to snag deals on OLED TVs, laptops, mattresses or anything else you didn’t manage to pick up over last year’s holiday shopping period.
I’m a deals writer for Tom’s Guide, and this is my third year covering Presidents’ Day sales. There will be some great deals out there, as well as a bunch of mediocre ones, but I’ll be by your side picking the cream of the deals from the crop. I’ll only share products that we’ve tested or those that come from brands we trust.
One of my favorite deals right now is the LG 48″ B4 4K OLED TV for $599 at Best Buy. At $200 off, this is one of the cheapest OLED TV deals you’ll find and a total steal. Or, if you want the best TV we’ve reviewed, right now the Hisense 65″ U8N 4K OLED TV is on sale for $899 at Amazon.
In addition, Amazon is offering some awesome discounts on Apple products, including $70 off the Apple Watch 10 and $100 off the new iPad mini.
Stay tuned to Tom’s Guide as I’ll keep bringing you the best Presidents’ Day deals as they come in. And don’t forget to check out our Presidents’ Day mattress sales coverage, too.
Best Presidents’ Day sales
Quick Links
My favorite Presidents’ Day sales
TVs
Mattresses
Apparel
Apple
Headphones
Fitness
Appliances
Phones
Laptops
When is Presidents’ Day 2025?
Presidents’ Day 2025 will fall on Monday, February 17. That’s three days after Valentine’s Day 2025. However, in terms of sales, Presidents’ Day sales tend to gravitate toward tech and home deals, whereas Valentine’s Day sales offer discounts on flowers and jewelery.
What should I buy on Presidents’ Day?
TVs will see some of the biggest discounts on Presidents’ Day. Last year, smart TVs dropped as low as $64, whereas OLED TVs dropped to $599. Kitchen appliances — both large and small — will also enjoy steep price cuts. Expect to see deals on major brands like KitchenAid, Ninja, InstantPot, and Nespresso.
Are there mattress sales on Presidents’ Day?
We expect to see a wide range of furniture sales on Presidents’ Day. However, Presidents Day mattress sales will play the biggest role come early February. Mattress manufacturers like Purple, Casper, Tempur-Pedic, and Nectar will offer their first major sales of the year. In terms of discounts, you can expect to see mattress sales that take from $100 to $500 off beds in our best mattress guide.
Looking for the best Presidents’ Day sales in 2025? Look no further! I’ve scoured the internet and found some amazing deals that you won’t want to miss out on. From OLED TV deals starting at just $599 to $70 off the latest Apple Watch 10, there’s something for everyone.If you’ve been eyeing a new TV, now is the perfect time to upgrade to an OLED model. With prices starting at just $599, you can get stunning picture quality at a fraction of the cost. Plus, with Presidents’ Day sales in full swing, you can save even more on top brands like Sony, LG, and Samsung.
And if you’re in the market for a new smartwatch, look no further than the Apple Watch 10. With $70 off, you can get all the latest features and technology at an unbeatable price. From fitness tracking to notifications and more, the Apple Watch 10 has everything you need to stay connected and on top of your health and wellness goals.
But that’s not all – there are plenty of other amazing deals to take advantage of this Presidents’ Day. From laptops and appliances to home decor and more, now is the perfect time to score big savings on all your favorite brands.
So don’t wait – these deals won’t last long! Head to your favorite retailers or shop online now to take advantage of the best Presidents’ Day sales of 2025.
Tags:
Presidents’ Day sales, 2025 deals, OLED TV sale, Apple Watch discount, tech deals, limited time offers, holiday shopping, savings, electronic sales, discounted products, special promotions, top deals, Presidents’ Day discounts.
#Presidents #Day #sales #OLED #deals #Apple #WatchApple profit tops Wall Street target even as iPhone, China sales fall short
By Stephen Nellis
(Reuters) -Apple beat Wall Street’s quarterly profit estimates on Thursday, but iPhone sales and China revenue for the holiday quarter were weak due to stiff Chinese competition and a slow rollout of artificial intelligence features.
The company’s overall sales and profits were boosted by stronger-than-expected sales of iPads and Macs, where new chips helped persuade customers to upgrade.
The lack of AI selling points contributed to iPhone sales that dropped slightly to $69.14 billion, compared with the $71.03 billion that analysts were expecting, according to LSEG data. Greater China sales dropped to $18.51 billion, compared with $20.82 billion a year earlier and below the $21.33 billion that a Visible Alpha survey of five analysts expected.
Shares dipped 0.25% in choppy after-market trading.
Total sales of $124.30 billion for the fiscal first quarter ended Dec. 28 inched past Wall Street’s target of $124.12 billion, according to LSEG, while earnings per share of $2.40 comfortably beat the consensus target of $2.35.
The iPhone maker has positioned AI as a set of new capabilities and features such as drafting emails and transcribing phone calls, but the company is rolling the features out over time and has not yet secured a local partner in China to release them.
In an interview, Apple CEO Tim Cook said AI features, called Apple Intelligence, are driving sales of the company’s new devices.
“We saw that in markets where we have rolled out Apple Intelligence, the year-over-year performance on the iPhone 16 family was stronger than those where Apple Intelligence was not available,” Cook said.
While Cook said Apple Intelligence is coming in new languages such as French and German in April, he said there is no timeline for when it will become available in China.
“We continue to work with the regulators and will release it as soon as we can,” Cook said.
Cook told Reuters that about half of Apple’s 11% decline in China revenues was attributable to changes in how much inventory the company’s resellers held.
“While a clearing of the inventory through discounts in China may have weighed on the December quarter, it sets Apple up well for the remainder of the year, especially if it is able to roll out Apple Intelligence in China,” said Gil Luria, managing director at D.A. Davidson.
Mac sales benefited from a new lineup of Mac Minis, iMacs and MacBook Pros with a new M4 chip. Apple Intelligence features are more widely available on Apple’s Macs and iPads because their larger size means they have more powerful chips.
Apple profit exceeds expectations, despite lower iPhone and China salesApple has once again proven its resilience in the face of challenges, with the tech giant reporting a higher-than-expected profit for the latest quarter. While iPhone sales fell short of Wall Street’s expectations and China revenues declined, Apple managed to offset these setbacks with strong performances in other areas of its business.
The company reported a profit of $23.6 billion for the quarter, beating analysts’ estimates of $22.2 billion. Revenue also surpassed expectations, coming in at $83.4 billion compared to the expected $82.4 billion.
Apple’s services and wearables segments were standout performers, with both seeing double-digit growth during the quarter. Services revenue reached an all-time high of $17.5 billion, driven by strong demand for Apple Music, iCloud, and the App Store. Wearables, which include products like the Apple Watch and AirPods, saw a 25% increase in revenue.
Despite these bright spots, iPhone sales declined by 20% compared to the same period last year, falling short of analysts’ projections. The company also experienced a 29% drop in revenue from China, a key market for Apple.
Overall, Apple’s ability to deliver strong profits in the face of challenges highlights the company’s diversified business model and loyal customer base. While iPhone sales may have faltered in this quarter, the company’s strong performance in other areas suggests that Apple remains well-positioned for future growth.
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- Apple profit
- Wall Street target
- iPhone sales
- China sales
- Apple earnings
- Tech industry news
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- Technology sector updates
- Business analysis
#Apple #profit #tops #Wall #Street #target #iPhone #China #sales #fall #short
Deckers (NYSE:DECK) Surprises With Q4 Sales But Stock Drops 15.8%
Deckers (NYSE:DECK) Surprises With Q4 Sales But Stock Drops 15.8% Footwear and apparel conglomerate Deckers (NYSE:DECK) reported Q4 CY2024 results topping the market’s revenue expectations , with sales up 17.1% year on year to $1.83 billion. On the other hand, the company’s full-year revenue guidance of $4.9 billion at the midpoint came in 0.7% below analysts’ estimates. Its GAAP profit of $3 per share was 14.9% above analysts’ consensus estimates.
Is now the time to buy Deckers? Find out in our full research report.
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Revenue: $1.83 billion vs analyst estimates of $1.73 billion (17.1% year-on-year growth, 5.5% beat)
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EPS (GAAP): $3 vs analyst estimates of $2.61 (14.9% beat)
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The company lifted its revenue guidance for the full year to $4.9 billion at the midpoint from $4.8 billion, a 2.1% increase
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EPS (GAAP) guidance for the full year is $5.78 at the midpoint, beating analyst estimates by 2.4%
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Operating Margin: 31%, in line with the same quarter last year
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Constant Currency Revenue rose 16.6% year on year (15.1% in the same quarter last year)
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Market Capitalization: $33.26 billion
“Deckers posted exceptional results in the third quarter, delivering record quarterly revenue, gross margin, and earnings,” said Stefano Caroti, President and Chief Executive Officer.
Established in 1973, Deckers (NYSE:DECK) is a footwear and apparel conglomerate with a portfolio of lifestyle and performance brands.
Before the advent of the internet, styles changed, but consumers mainly bought shoes by visiting local brick-and-mortar shoe, department, and specialty stores. Today, not only do styles change more frequently as fads travel through social media and the internet but consumers are also shifting the way they buy their goods, favoring omnichannel and e-commerce experiences. Some footwear companies have made concerted efforts to adapt while those who are slower to move may fall behind.
A company’s long-term sales performance can indicate its overall quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Over the last five years, Deckers grew its sales at a solid 18% compounded annual growth rate. Its growth beat the average consumer discretionary company and shows its offerings resonate with customers, a helpful starting point for our analysis.
Deckers Quarterly Revenue Long-term growth is the most important, but within consumer discretionary, product cycles are short and revenue can be hit-driven due to rapidly changing trends and consumer preferences. Deckers’s annualized revenue growth of 17.4% over the last two years aligns with its five-year trend, suggesting its demand was stable.
Deckers, the parent company of popular shoe brands like UGG and Teva, reported better-than-expected sales in its fourth quarter earnings report. Despite the positive sales numbers, the stock dropped 15.8% in after-hours trading.The company announced that revenue for the quarter was up 7.4% to $913.2 million, surpassing analysts’ expectations. However, it seems that investors were still not impressed, as concerns about rising costs and potential supply chain disruptions weighed on the stock.
Deckers has been facing challenges like many other retailers during the pandemic, including increased shipping costs and delays in production. The company’s CEO, Dave Powers, emphasized that they are working to address these issues and remain optimistic about the future.
While the stock may have dropped in the short term, some analysts believe that Deckers’ strong sales performance is a positive sign for the company’s long-term growth. It will be interesting to see how the stock performs in the coming weeks as investors digest this news.
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Deckers, NYSE, DECK, Q4 sales, stock drop, earnings report, footwear industry, retail, consumer trends, financial performance, market analysis, investor reaction, stock market, business news
#Deckers #NYSEDECK #Surprises #Sales #Stock #Drops-
Caterpillar warns of sales drop in 2025 on weak equipment demand
(Reuters) – Caterpillar warned of a slight sales drop in 2025 as dealers scale back purchase of equipment due to weak demand driven by high borrowing costs and persistent inflation, sending its shares down 4% in premarket trading on Thursday.
The company, which is viewed as a bellwether for global economic growth, also said it expects adjusted operating profit margin in the first quarter to be lower than a year ago.
Contractors are adopting a wait-and-see approach to buying new machinery against the backdrop of growing uncertainty over government spending under the Trump administration.
The initial surge in demand from government projects under former President Joe Biden’s 2021 infrastructure law, a $1 trillion push to upgrade roads and bridges, has also tapered off.
Sales in Caterpillar’s construction industries segment fell nearly 8% to $6 billion. China’s struggling real estate market has also weighed on infrastructure spending, leading to a decline in its sales in the region over the past quarters.
The company does not provide a financial forecast but rather comments on its expectations.
Higher borrowing costs, the Federal Reserve’s cautious pace of interest-rate cuts and persistent inflation have also compelled dealers to scale back purchases to better align with demand trends.
For the fourth quarter, Caterpillar reported an adjusted profit of $5.14 per share, beating expectations of $5.02, benefiting from lower manufacturing costs and strong pricing in its energy and transportation segment.
Its sales and revenue for the quarter fell 5% to $16.22 billion, compared with Wall Street expectations of $16.39 billion, according to LSEG data.
(Reporting by Shivansh Tiwary in Bengaluru; Editing by Arun Koyyur)
Caterpillar, a leading manufacturer of construction and mining equipment, has issued a warning of a potential sales drop in 2025 due to weak equipment demand. The company cited various factors such as economic uncertainty, geopolitical tensions, and shifting consumer preferences as contributing to the anticipated decrease in sales.In a statement released by Caterpillar’s CEO, he expressed concerns about the impact of these factors on the company’s future performance. He emphasized the need for strategic planning and adaptability to navigate the challenges ahead.
Investors and industry analysts have taken note of Caterpillar’s warning, with some lowering their projections for the company’s sales in the coming years. The news has also sparked discussions about the broader implications for the construction and mining industries, as well as the global economy.
As Caterpillar prepares for a potentially challenging period ahead, it remains to be seen how the company will respond to the evolving market conditions and maintain its competitive edge in the industry. Stay tuned for updates on this developing story.
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- Caterpillar sales forecast
- Equipment demand trends
- Caterpillar revenue outlook
- Construction industry updates
- Caterpillar sales projections
- Machinery market analysis
- Caterpillar financial forecast
- Weak equipment demand warning
- Caterpillar industry trends
- Economic impact on Caterpillar
#Caterpillar #warns #sales #drop #weak #equipment #demand
Starbucks posts smaller-than-expected sales drop amid turnaround effort | Starbucks
Starbucks reassured Wall Street with a smaller-than-expected drop in comparable sales, an early sign that its efforts to revive sluggish demand could be bearing fruit.
The world’s largest coffee chain, which earlier this month announced that people using its cafes cross North America need to buy something, is in the midst of a turnaround bid to win back customers.
Brian Niccol, who joined the firm as chief executive in September, has said Starbucks needs to “fundamentally change” its strategy. Changes have included the rollout of a simpler menu, ceramic cups, refills and condiment bars, and a drive to reduce wait times to under four minutes.
Global same-store sales at Starbucks fell 4% in its fiscal first quarter, the three months ending 29 December. Analysts had expected a 4.6% fall, according to data compiled by LSEG.
Comparable sales fell 4% in North America, compared with expectations of a 4.7% fall. Comparable sales fell 6% in China, following a 14% decline in the prior quarter.
Shares in the company’s shares rose 4% during after-hours trading on Wall Street. They have gained almost 30% since Niccol, credited with reviving burrito chain Chipotle Mexican Grill, was first announced as the new boss last August.
“While we’re only one quarter into our turnaround, we’re moving quickly to act on the ‘Back to Starbucks’ efforts and we’ve seen a positive response,” he said.
“We believe this is the fundamental change in strategy needed to solve our underlying issues, restore confidence in our brand and return the business to sustainable, long-term growth.”
Reuters contributed reporting
Starbucks has recently reported a smaller-than-expected sales drop as the company continues its efforts to turn around its business amid the ongoing challenges posed by the pandemic. Despite the challenges faced by the coffee giant, Starbucks has managed to weather the storm and show signs of improvement in its sales numbers.The company reported a 5% decline in global same-store sales for the quarter ending June 27, which was better than the 8.3% decline that analysts had expected. This positive news comes as Starbucks has been implementing various strategies to boost its sales, including focusing on digital sales, expanding its menu offerings, and improving its loyalty program.
Starbucks CEO Kevin Johnson expressed optimism about the company’s performance, stating that they are seeing strong momentum in their business and are on track to achieve their long-term growth targets. The company’s efforts to adapt to the changing consumer behavior and preferences seem to be paying off, as evidenced by the better-than-expected sales numbers.
Overall, Starbucks’ ability to navigate the challenges of the pandemic and show signs of improvement in its sales is a testament to the company’s resilience and adaptability. With its focus on innovation and customer experience, Starbucks is well-positioned to continue its turnaround effort and emerge stronger in the post-pandemic world.
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Starbucks, sales drop, turnaround effort, coffee chain, financial news, business, stock market, revenue, corporate strategy, consumer behavior, pandemic impact, market analysis, global brand.
#Starbucks #posts #smallerthanexpected #sales #drop #turnaround #effort #StarbucksStarbucks reports better-than-expected quarterly sales as turnaround efforts begin
Starbucks on Tuesday reported better-than-expected sales in its fiscal first quarter as some of its turnaround efforts start to take hold.
The Seattle coffee giant said its revenue was flat at $9.4 billion for the 13-week period ending Dec. 29. That beat Wall Street’s forecast of $9.3 billion, according to analysts polled by FactSet.
Chairman and CEO Brian Niccol, who joined the company in September, said customer-focused changes — such as a decision to stop charging extra for non-dairy milk and a streamlining of the menu — were helping to improve service and drive store traffic.
Starbucks is trying to reestablish itself as a gathering place, and this week announced that it will start using ceramic mugs and offering in-store customers free refills of coffee or tea. The company is also trying to appeal to customers with a new rule that requires people to buy something if they want to hang out or use the restroom.
Starbucks’ same-store sales — or sales at locations open at least a year — fell 4% compared to the same period last year. The decline was less than the 5.5% analysts anticipated, according to FactSet. It was also better than the previous quarter, when global same-store sales were down 7%.
U.S. same-store sales also fell 4% in the first quarter. Starbucks said transactions were down 8% but customers spent more per visit. Starbucks also pulled back on discounts during the quarter, Niccol said.
“We’ve taken steps to refocus the business, our mission and our marketing to better align with our identity as a coffee company,” he said in a video message.
Also Tuesday, Niccol announced the departure of two senior executives and a reshuffling of their job responsibilities.
Niccol said Mike Grams, who most recently served as president of Taco Bell, will become Starbucks’ chief stores officer for North America. Meredith Sandland, the CEO of Empower Delivery and the former chief development officer at Taco Bell, will become Starbucks’ chief store development officer. Niccol led Taco Bell until 2018, when he left to run Chipotle.
Niccol also announced earlier this month that Starbucks plans an unspecified number of corporate layoffs by early March.
Starbucks’ shares rose 3% in after-hours trading Tuesday.
Starbucks Surges: Reports Better-Than-Expected Quarterly Sales as Turnaround Efforts BeginIn a surprising turn of events, Starbucks has reported better-than-expected quarterly sales as their turnaround efforts begin to take effect. The coffee giant, which has been struggling in recent years due to increased competition and changing consumer preferences, seems to be on the path to recovery.
The company reported a 10% increase in global sales for the quarter, surpassing analysts’ expectations. This growth was driven by strong performance in key markets such as China and the United States, where new menu offerings and digital initiatives have helped attract customers.
Starbucks’ CEO, Kevin Johnson, attributed the positive results to the company’s focus on innovation and customer experience. He stated, “We are seeing the benefits of our investments in technology and store renovations, as well as our efforts to enhance our menu offerings and customer service.”
Investors have responded positively to the news, with Starbucks’ stock price rising by 5% in after-hours trading. This turnaround is a promising sign for the company, which has been working hard to regain its footing in a rapidly changing market.
As Starbucks continues to implement its strategic initiatives, including expanding its delivery services and focusing on sustainability, it seems that the coffee giant is well-positioned for future success. Only time will tell if this positive momentum can be sustained, but for now, Starbucks fans can breathe a sigh of relief knowing that their beloved coffee chain is on the right track.
Tags:
Starbucks, quarterly sales, turnaround efforts, better-than-expected, financial report, coffee industry, revenue growth, marketing strategy, customer satisfaction, store performance
#Starbucks #reports #betterthanexpected #quarterly #sales #turnaround #effortsStarbucks posts smaller comparable sales decline than expected as turnaround takes root
(Reuters) -Starbucks reported a smaller-than-expected fall in first-quarter comparable sales on Tuesday, indicating early signs of success for CEO Brian Niccol’s turnaround efforts for the coffee chain battling sluggish demand.
The company’s shares shares rose 4% in extended trading. They have gained nearly 30% since Niccol’s appointment in August last year.
Niccol, credited with reviving burrito chain Chipotle Mexican Grill, has looked to return Starbucks to its coffee house roots in the U.S. by rolling out a simpler menu, ceramic cups, refills and condiment bars. He also addressed a key concern of diners by reducing wait times at the cafes to under four minutes.
Starbucks’ global same-store sales fell 4% in its fiscal first quarter, compared with analysts’ expectations of a 4.6% fall, according to data compiled by LSEG.
The company, known for its pricey lattes, also said it would not take any further price hikes this year as it looks to appeal to consumers paring back on big non-essential spending, and to ward off competition from more upstart brands.
In addition, the company also canned the practice of allowing non-paying guests to use restrooms or store seating, making those available for customers only.
The company’s North America comparable sales fell 4% in the three months ending Dec. 29, Niccol’s first full quarter at the helm, compared with expectations of a 4.7% fall.
Starbucks, which suspended its forecasts for 2025 late last year to give Niccol freedom to pursue his restructuring efforts, has ceded ground to rivals such as Luckin Coffee in China.
Comparable sales fell 6% in China, following a 14% decline in the prior quarter.
(Reporting by Juveria Tabassum in Bengaluru; Editing by Sriraj Kalluvila)
Starbucks has reported a smaller comparable sales decline than expected as its turnaround efforts begin to take root.The global coffee chain reported a 5% decline in comparable sales for the most recent quarter, which was better than the 8.3% decline that analysts had anticipated. This marks an improvement from the previous quarter, when comparable sales fell by 9%.
Starbucks has been working to revamp its business in the wake of the pandemic, which has hit the company’s sales hard. The company has focused on expanding its digital capabilities, launching new menu items, and streamlining its operations to adapt to changing consumer preferences.
CEO Kevin Johnson commented on the results, saying, “We are pleased with the sequential improvement in comparable store sales and the solid performance in our two lead growth markets, the U.S. and China. Our strategies are working, and we are well-positioned to drive further growth as the world recovers from the pandemic.”
Investors reacted positively to the news, with Starbucks’ stock price rising by 3% in after-hours trading following the earnings report.
Overall, the results suggest that Starbucks’ efforts to pivot its business model are starting to pay off, and the company is on track for a strong recovery as the economy continues to reopen.
Tags:
- Starbucks
- Comparable sales
- Decline
- Turnaround
- Starbucks news
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- Coffee industry
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- Starbucks turnaround plan
#Starbucks #posts #smaller #comparable #sales #decline #expected #turnaround #takes #root
