Starbucks reports strong second-quarter earnings, raises fiscal 2021 guidance

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Starbucks reports strong second-quarter earnings, raises fiscal 2021 guidance

Starbucks reported the second quarter earnings results on Tuesday after the closing bell and the same-store sales were rebounding from the depths of the coronavirus pandemic and the coffee giant raised its fiscal guidance for 2021.

Here were the expected, key figures compared to analyst estimates of the second quarter by Bloomberg.

Earnings per share : 62 cents versus 52 cents per share expected.

I am very pleased with our progress to date in fiscal 2021, as our final quarter results demonstrated the impressive momentum in the company with full sales recovery in the US. Our strong results validate our ability to adapt to change in our environment and the needs of customers, CEO Kevin Johnson said in a statement.

Johnson added that the coffee chain is positioned '' for the inevitable great human reconnection from which the company sees unfolding in the world, and will propagate in every market around the world where people once again connect with others face to face to heal, share, and celebrate.

The closely followed same-store sales grew to 17% in the quarter, according to Bloomberg data from 17.01%.The average ticket slipped 19%, while comparable transactions increased 4%.

In the US, the same-store ticket sales increased 9%, with comparable ticket sales 22%, while average transactions fell 10%.

In China, the comp-store sales grew 91%, with a 93% increase in transactions and a 1% decline in average ticket size.

Over the fiscal second quarter, 90 - day active Starbucks users grew to 22.9 million from a year ago to 18%.

Starbucks also raised its FY 2021 revenue and EPS guidance.The company is expecting to report revenue between $28.5 billion and $29.3 billion, up from the earlier $28 billion to $29 billion range.Starbucks sees its non-GAAP EPS in the range of $2.90 to $2.00, up from the previous $2.70 to $2.90 range.

The company reiterated its guidance for global retail business growth between 18% and 23%.Starbucks currently sees same-store sales growth of between 17% and 22% in the U.S. Starbucks.

After closing on Tuesday, they fell to $216.15 or $3.15 to last trade near $123, before it closed at $113 on Tuesday.

Julia La Roche is a writer for Yahoo Finance.Follow her on Twitter.

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