Starbucks Is Raising Expectations for 2021
Starbucks (NASDAQ: SBUX) is gaining momentum as folks, especially in the U.S., are getting vaccinated against the coronavirus. The international coffee chain reported second-quarter results on Tuesday, April 27, and the results were so good that it's raising expectations for the rest of 2021.
Central to its rebound is the extent to which governments slow the spread of the coronavirus. Progress on this front is going well in the U.S., where infections and deaths are trending downward, and not so well in other parts of the world like India and Brazil. Fortunately, the vaccines developed against the coronavirus appear to be very effective. Additionally, the supply of vaccines is ramping up, boosting confidence that more countries will turn the tide against the pandemic.
That can partly explain management's optimism for the rest of 2021.
Source Fool.com
