Starbucks CEO: recovery unfolding ‘faster than we anticipated’

Coffee giant Starbucks Corporation (NASDAQ: SBUX) reported Thursday afternoon fiscal fourth quarter results that signal the company’s recovery from COVID-19 lows is unfolding “faster than we anticipated,” CEO Kevin Johnson told Bloomberg TV. Rebound from lows Starbucks reported a solid EPS beat of 51 cents versus estimates of 31 cents while revenue of $6.2 billion was better than the $6.06 billion expected. Net income fell from $802.9 million last year to $392.6 million and the company said it believes it missed out on $1.2 billion worth of sales because of the pandemic. Here is a full recap of Starbucks’ fiscal