Starbucks holds off on guidance lift

Starbucks (NASDAQ:SBUX) CEO Kevin Johnson said on the earnings call that the company held back on raising full-year guidance due to the uncertainty with the novel coronavirus in China, although he and other execs hinted that a higher EPS range was on its way.

Johnson said a “material” impact is anticipated with the international business and he reminded that China only accounts for about 10% of total SBUX revenue.

Starbucks plans to issue a full-year guidance update when it can “reasonably” estimate the impact of the virus.

Conference call webcast

Previously: Starbucks posts strong holiday sales in U.S. (Jan. 28)

SBUX -1.75% AH to $87.05.


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