Starbucks Lifts Forecasts as Strong Momentum Continues
Starbucks (NASDAQ: SBUX) has been a surprising winner this year, trouncing the market with a 41% gain leading up to the company's fiscal third-quarter earnings release on Thursday afternoon. The stock's gain comes as investors cheer Starbucks' strong revenue and same-store sales growth.
But shares received another greater boost after the company's impressive fiscal third-quarter results, bringing the stock's total return this year to nearly 50%. Strength during the quarter was particularly evident, highlighted by higher-than-expected comp growth and a boost to the coffee specialist's full-year outlook.
Image source: Starbucks.
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