Starbucks Faces Revenue Decline Amidst Consumer Pullback

Third-quarter results show a 3% drop in same-store sales and a 1% revenue decrease, with significant challenges in the US and China markets.

Global same-store sales fell 3%, marking the second consecutive quarterly decline.
US same-store sales dropped 2%, with a 6% decrease in foot traffic despite higher average spending per visit.
China's same-store sales plummeted 14%, exacerbated by increased competition and cautious consumer spending.
Starbucks opened 526 new stores in the third quarter, bringing the total to 39,477 worldwide.
The company remains optimistic about its long-term strategy, focusing on new product launches and operational improvements.