1353 ET - Consumers are likely cutting back on coffee trips amid what Baird analysts are calling a tougher discretionary spending backdrop. As a result, they forecast mixed results and falling same-store sales ahead of Starbucks' 2Q earnings report, scheduled to hit Tuesday. The analysts say in a research note that they remain confident in new CEO Brian Niccol's long-term plan for the coffee chain. "But at the same time, we remain concerned that macro headwinds could prove to be an offset in the near term." The analysts maintain a neutral rating, citing concerns about current macroeconomic conditions, though they say they will look to return to a more constructive recommendation when demand outlooks improve. (connor.hart@wsj.com)
(END) Dow Jones Newswires
April 25, 2025 13:53 ET (17:53 GMT)
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