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Starbucks Corp is expected to report record second-quarter revenue of over $6.8 billion, after a year of declining sales, as vaccinations in the US and China allowed more customers to return to their morning coffee runs.
Analysts noted that Starbucks' online ordering service, loyalty program, and drive-thru lanes put it in a strong position to take advantage of a recovering economy.
Wedbush Securities analyst Nick Setyan pointed out that Starbucks has a lot of visibility into customer habits, more than any other name in the industry.
Edward Jones analyst Brian Yarbrough said that while not everyone’s gone back to work, a lot of people have, causing long lines at Starbucks drive-thrus.
He added that as the US economy further improves in the coming quarters, investors will be paying attention to Starbucks’ forecast.
The world’s largest coffee chain’s smaller international segment is expected to advance its revenues by about 58 percent, largely on the nearly full recovery of business in China and a slowdown in the expansion of accounting scandal-ridden rival Luckin Coffee.
