Starbucks Corp. topped Wall Street estimates for quarterly comparable sales and profits on Thursday, saying it will weather any coming recession by selling customized cold drinks through its rewards app to grow its ranks of younger, wealthier customers.
Demand in North America for pricier drinks remained strong and declines in China were not as bad as projected in its fourth quarter ended Oct. 2. Earnings were $0.81 per share, versus analyst expectations of $0.72, according to Refinitiv IBES.
Amid record inflation and fears of a global economic downturn, restaurants McDonald’s Corp. and Yum Brands Inc. have drawn lower-income consumers with cheap meals. Even so, wealthier people keep buying pricier food and drinks from Starbucks and Chipotle Mexican Grill Inc…..
Source: The Epoch Times
At least 37 migrants killed in fire at Mexico’s migration office in Ciudad Juarez – CNN
Dalai Lama names US-born Mongolian boy as reincarnation of Buddhist leader
Russia Could Seek Compensation Over Nord Stream Sabotage : by Tyler Durden