GLOBAL MARKETS: Starbucks tops forecasts
Starbucks exceeded Wall Street forecasts for quarterly sales last Thursday, led by the popularity of its holiday-themed drinks in the US
Starbucks exceeded Wall Street forecasts for quarterly sales last Thursday, led by the popularity of its holiday-themed drinks in the US, where its growth has been cooling in an increasingly crowded market for coffee houses. Globally, the company’s same-restaurant sales rose 4% during the December quarter, topping analysts’ average estimate of a 2.8% increase, according to IBES data from Refinitiv. Global shipping rates slump Freight rates for dry-bulk and container ships, carriers of most of the world’s raw materials and finished goods, have plunged over the past six months. The Baltic dry index, a measure of ship transport costs for materials like iron ore and coal, has fallen 47% since mid-2018. Dry-bulk commodities are taken as a leading economic indicator, because they are used in core industrial sectors, and analysts say the recent declines in activity point to a serious global economic slowdown. Reuters
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.