Starbucks CorporationNasdaq: SBUX
Consumer Discretionary · Restaurants
$101.54
-0.05%
Vol: 1.4M
Research Digest
Tuesday, June 16, 2026
Starbucks launches two new coconut-forward summer beverages on June 16 amid a South Korea boycott pressuring international revenue and stock weakness.
On June 16, 2026, Starbucks rolled out two new coconut-flavored summer refreshment beverages as it leans into afternoon and evening traffic growth, where the 3-5 p.m. window is showing its biggest gains and Refreshers have become its second best-selling platform behind espresso. Separately, recent reporting flagged that South Korean Starbucks locations are closing amid a boycott, with the stock sliding on the international weakness. This comes alongside an ongoing turnaround that includes a roughly $1 billion overhaul, store closures, and cuts of about 900 nonretail employees, plus a $2 billion cost-savings initiative. The product news supports the North America momentum story, but the Korea boycott is a clear near-term risk to international comps. Net sentiment is mixed given strong domestic traffic against international softness.
Previous Market Intelligence
13 daysJun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14Starbucks shares extended an overnight rally on reports it is exploring strategic alternatives for its Japan business, including a stake sale valued at $2.5B-$3.1B.Positive▶
Starbucks stock extended its rally overnight on reports the company is evaluating strategic alternatives for its Japan operations, including a potential partial divestment or public listing valued at roughly $2.5 billion to $3.1 billion. The move follows CEO Brian Niccol's comments that Starbucks sees significant growth opportunities abroad and continues a pattern of unlocking value in international units, after agreeing earlier this year to sell a 60% stake in its China retail business to Boyu Capital in a deal valuing that operation at $4 billion. Shares traded around $100.82, up about 2% on the session and up roughly 22.7% year-to-date. The Japan review fits the broader Back to Starbucks turnaround that drove top- and bottom-line growth in Q2 FY2026. Analysts hold a Moderate Buy consensus (17 Buys, 10 Holds, 1 Sell). The risk is that a Japan deal remains exploratory and could fall short of reported valuations.
May 21Starbucks laid off 300 employees, closed three satellite offices, and announced $400M in FY26 restructuring charges as Niccol's turnaround plan accelerates.Positive▶
Starbucks laid off approximately 300 employees and closed satellite offices in Chicago, Atlanta and Burbank as CEO Brian Niccol accelerated his cost-cutting turnaround plan. The company also disclosed it will incur $400 million in restructuring charges in FY26. An additional 61 employees, primarily in technical fields, were laid off on May 8, with operations shifting to a new technology office opening in India. Q2 2026 results showed North American comparable store sales up 7% with net revenues up 9%. Stifel raised the PT to $117 from $115, and Piper Sandler raised to $110 from $103 (Overweight). The new summer menu launched May 12 featuring Tropical Butterfly Refresher and a new Horchata Frappuccino. SBUX is up about 27% YTD with shares around $105-107.
May 20Starbucks lays off 300 corporate staff and closes three offices as Niccol's turnaround tightens cost basePositive▶
Starbucks announced it will lay off about 300 corporate employees and close satellite offices in Chicago, Atlanta, and Burbank as CEO Brian Niccol's turnaround pushes for cost savings; coffeehouse jobs are unaffected. A separate May 8 cut hit 61 technical employees. The moves follow strong fiscal Q2 results (revenue $9.5B, +8% YoY; U.S. comps +7%) and a raised 2026 outlook. Starbucks also launched cash tender offers of up to $1.10B to repurchase senior notes and rolled out a new summer menu plus a scheduled-order app feature on May 12. TD Cowen upgraded SBUX to Buy from Hold in mid-May. Shares are up ~27% YTD with momentum on operational fixes.
May 19Starbucks cuts 300 more corporate jobs in third round under Niccol, flags $400M restructuring chargePositive▶
Starbucks announced on May 15, 2026 that it is laying off 300 U.S. corporate employees and closing some regional support offices as part of CEO Brian Niccol's ongoing turnaround. Combined severance and office space reassessments will result in approximately $400 million in restructuring charges in fiscal 2026. The cuts follow strong fiscal Q2 results on May 13 with adjusted EPS of $0.50 (vs $0.44 consensus) and 8.8% revenue growth driven by 7.1% U.S. comp sales. Starbucks raised FY2026 EPS guidance to $2.25-$2.45 and U.S. comp guidance to at least 5%. TD Cowen upgraded SBUX to Buy from Hold on May 14. Sentiment is positive as investors view the restructuring as accelerating margin recovery.
May 18Starbucks cuts 300 more U.S. corporate jobs with $400M restructuring charge; plans first India tech office.Mixed▶
On May 15, 2026, Starbucks announced it would lay off 300 U.S. corporate employees and shutter some regional support offices in CEO Brian Niccol's third round of cuts, with combined severance and office space charges totaling $400 million. On May 16, the company announced plans to open its first corporate tech office in India in fiscal 2027 as part of a $2 billion cost-cutting drive. TD Cowen upgraded Starbucks to Buy from Hold, citing 'more room for growth.' The company raised its FY 2026 EPS guidance to $2.25-$2.45 (from $2.15-$2.40) and now expects U.S. same-store sales growth of at least 5%. Q2 adjusted EPS came in at $0.50, beating consensus of $0.44, while U.S. comparable sales rose 7.1%. SBUX has returned about 8.6% over the past month and roughly 27.2% YTD.
May 15Starbucks hits 52-week high as TD Cowen upgrades to Buy with $120 PT on Niccol-led turnaround; Q2 US comps up 7.1%Positive▶
Starbucks shares reached a 52-week high on May 14 as investors embraced CEO Brian Niccol's "Back to Starbucks" turnaround. Q2 2026 EPS came in at $0.50 vs. $0.44 estimates, with US comparable sales up 7.1% — the quarter management called the inflection point of the turnaround. TD Cowen upgraded the stock to Buy from Hold and raised its price target to $120 from $106, citing multiple tangible sales-driver catalysts and expected margin recovery despite labor investments. Stock is up ~28% YTD to roughly $106. The company launched a $1.1B debt tender offer to repurchase senior notes and announced 61 tech-related layoffs at the Seattle Support Center (June 20-Aug 28). Labor remains an overhang as Starbucks Workers United won a Bakersfield, CA store election. Consensus is Moderate Buy (17 Buy / 11 Hold / 1 Sell among 29 analysts).
May 14Starbucks launched its 2026 summer menu and app scheduled-ordering feature on May 12, following recent Q2 results that drove a guidance raise and a Stifel price target hike to $117.Positive▶
On May 12, 2026, Starbucks rolled out its 2026 summer menu featuring the new Tropical Butterfly Refresher and returning Iced Horchata Shaken Espresso, while launching a new in-app scheduled-ordering feature that lets customers pick a pickup time up to an hour ahead. The launch follows Q2 2026 results showing global comparable store sales up 6.2% and North America comps up 7.1%, leading the company to raise full-year 2026 guidance to at least 5% comp growth. Stifel raised its price target to $117 from $115. The company also disclosed layoffs of 61 corporate tech workers in Seattle. This matters because the new summer menu and digital tools test whether the 'Back to Starbucks' turnaround under CEO Niccol can sustain traffic. The risk is that summer comps disappoint and corporate restructuring signals deeper cost pressure.
May 13Starbucks Q2 FY26 reported record $9.53B revenue (+9%) with GAAP EPS +32% to $0.45; completed sale of China business and laid off 61 corporate tech workers in Seattle.Positive▶
Starbucks Q2 FY2026 reported record net revenue of $9.53B, up 9%, with GAAP EPS rising 32% YoY to $0.45, surpassing estimates. All top 10 international markets experienced positive comp growth for the first time in nine quarters. The board approved a quarterly cash dividend of $0.62 per share, payable May 29, 2026 to shareholders of record May 15. The company completed the sale of its China business to a local partner, reshaping its international exposure. Starbucks is laying off 61 corporate tech workers in Seattle. Shares trade at $106.78 with a P/E of 80.71. The stock returned 9.5% over 30 days, 24.2% YTD, and 30.4% over the past year. DCF analysis suggests potential 61.7% overvaluation.
May 12Starbucks launches summer menu and new app scheduled-ordering feature on May 12, while sustaining Q2 momentum that included $9.5B revenue beat and lifted FY26 outlook.Positive▶
Starbucks kicked off its summer menu on May 12, including the Tropical Butterfly Refresher, an Iced Horchata Shaken Espresso return, and a new Horchata Frappuccino, alongside an app feature letting customers schedule pickup up to an hour ahead. The product push extends the company's recent operational turnaround under CEO Niccol: Q2 2026 revenue was $9.5 billion versus a $9.12 billion consensus, EPS came in at $0.50 versus $0.42 expected, and management lifted FY26 guidance. U.S. comparable transactions rose 4.3% YoY. The Board declared a $0.62 quarterly dividend payable May 29 to holders of record May 15. SBUX is up 24.2% YTD and 30.4% over the past year.
May 11Starbucks raises FY26 guidance after Q2 revenue beat and Stifel lifts price target to $117Positive▶
Starbucks reported Q2 FY2026 net revenues up 9% to a record $9.53 billion with comparable store sales up 6.2% driven by higher traffic and ticket. GAAP EPS was $0.45 (up 32% YoY) and adjusted EPS $0.50 (up 22%), both ahead of estimates. The company raised its fiscal 2026 outlook, projecting U.S. and global comps up 5% or more along with higher adjusted EPS guidance. Stifel raised its price target to $117 from $115 on May 6, 2026. The Board approved a $0.62 quarterly cash dividend payable May 29 to shareholders of record May 15. Starbucks launches its 2026 summer menu on May 12 featuring the Tropical Butterfly Refresher, and a Miffy collaboration drinkware collection drops May 19.
May 8Starbucks reported Q2 2026 EPS of $0.50, beating estimates of $0.44, with Stifel raising price target to $117 and company planning summer menu launch May 12.Positive▶
Starbucks delivered Q2 2026 earnings per share of $0.50, beating estimates of $0.44 by 13.64%, driven by global comparable store sales growth of 6.2% and increased transaction volume. The company achieved growth on both top and bottom lines for the first time in over two years. Management plans to hire additional baristas at thousands of stores in May to improve customer service and launched a beta Starbucks App in ChatGPT on April 15. A new summer menu arrives May 12 featuring tropical refreshers and horchata-inspired beverages. CEO Niccol's remarks on May 4 caused minor stock movement. Stifel raised its price target to $117 from $115 on May 6. CFO Brady Brewer sold 2,229 shares on May 5.
May 6Starbucks Q2 FY2026 earnings beat; turnaround milestone with 6.2% comp sales growth and raised FY2026 guidancePositive▶
Starbucks reported Q2 fiscal 2026 results marking a major turnaround milestone with both revenue and profit growth for the first time in over two years. Global comparable store sales grew 6.2%, driven by higher U.S. customer transactions hitting a three-year high. Global net revenue increased 9% to a record $9.53 billion, well above consensus. Net income was $511 million, or 45 cents per share. The company raised fiscal 2026 outlook projecting U.S. and global comparable sales growth of 5% or more. Management credited faster service times, improved store execution, and 500M+ investment in the comeback strategy.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| MCDMCDONALD | $287.18 | +0.37% | +1.3% | 20.1x | 0.41 | $203.3B |
| SBUXSTARBUCKS | $101.54 | -0.05% | -4.7% | 33.7x | 0.98 | $115.8B |
| YUMYUM | $157.72 | +1.97% | +1.6% | 20.6x | 0.57 | $42.6B |
| CMGCHIPOTLE | $33.25 | +1.57% | -3.0% | 24.1x | 0.98 | $42.0B |
| DRIDARDEN | $208.97 | +0.10% | +7.8% | 18.4x | 0.59 | $23.9B |
| DPZDOMINO | $321.21 | +1.48% | +2.8% | 15.1x | 0.97 | $10.5B |
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Price above both MAs — bullish structure.