Starbucks

Starbucks will invest about $1 billion to modernize up to 9,000 company-owned stores in North America, averaging roughly $150,000 per location. About 1,500 stores are reported to have completed the so-called “uplifts” with new furniture, carpets, bookshelves and plants by the end of September. The goal is to reinforce the “third place” concept, keep customers in stores longer and drive additional sales. The move is part of CEO Brian Niccol’s turnaround plan; at the same time Starbucks aims to achieve around $2 billion in cost savings over the next two years. » More on de.investing.com

Starbucks has completed the restructuring announced in May and eliminated 104 positions. Those affected include staff in the store design and construction team as well as about 120 employees who declined to relocate from Seattle to Nashville. The company expects the Nashville site to employ roughly 2,000 people going forward. Under CEO Brian Niccol, Starbucks is targeting $2 billion in cost savings within two years; more than 2,300 corporate positions have already been cut since last year. » More on de.investing.com

Starbucks reported Q3 non-GAAP EPS of $0.85 versus $0.65 expected, revenue of $9.32 billion and global same-store sales up 7.9%, driven by North America comps of 8.1% and a 4.5% rise in transactions. Management raised FY26 non-GAAP EPS guidance to $2.55–$2.65 for the third time this year and operating margin expanded 430 basis points to 14.4%. Analysts see upside to a $120.60 price target on continued margin improvement and Channel Development growth, while risks include high valuation, negative shareholders’ equity and potential comp deceleration. » More on finance.yahoo.com