Starbucks raised its full-year outlook for fiscal 2026 after reporting its fourth consecutive quarter of same-store sales growth, exceeding analyst expectations for earnings and revenue, driven by cafe renovations, menu improvements, and a "Back to Starbucks" strategy.
Fast Retailing, parent of Uniqlo, saw same-store sales rise in May due to enhanced marketing and strong demand for summer products. The company reported significant revenue and profit growth for the nine-month period ending May, with Greater China being its second-largest market.
Sandwich chain Jersey Mike's has filed for an initial public offering (IPO) to trade on the NYSE under "JMKE," reporting $55 million net income on $724 million revenue last year and 50% cumulative same-store sales growth from 2020-2025, despite a sluggish industry.
Darden Restaurants reported mixed fiscal Q4 results, with same-store sales growth at fine-dining and Olive Garden missing expectations. The company's fiscal 2027 forecast also landed on the lower end of Wall Street's projections, causing shares to fall.
Chipotle Mexican Grill reported first-quarter same-store sales growth of 0.5%, beating Wall Street expectations of a 0.7% decline. Revenue rose 7.4% to $3.09 billion, slightly above the $3.07 billion expected. Net income fell to $302.8 million from $386.6 million a year earlier, impacted by higher tax rates, wage inflation and rising beef prices. CEO Scott Boatwright said results exceeded company expectations. The company reiterated its full-year outlook of flat same-store sales.
Yum Brands reported Q1 adjusted EPS of $1.50, beating analyst expectations of $1.38, with revenue of $2.06 billion versus $2.04 billion expected. Taco Bell led performance with 8% same-store sales growth, significantly outpacing the quick-service restaurant industry. KFC posted 2% same-store sales growth while Pizza Hut remained flat globally. The company is exploring strategic options for Pizza Hut, with private equity firms including Apollo Global Management and Sycamore Partners reportedly interested.
Starbucks raised its fiscal 2026 outlook, now expecting global and U.S. same-store sales growth of at least 5% and adjusted EPS of $2.25-$2.45, citing second consecutive quarter of traffic growth. U.S. same-store sales jumped 7.1% with a 4.3% transaction increase, while China weighed on international results with only 0.5% growth. Shares rose about 5% in extended trading.
Starbucks' global same-store sales, which only includes cafes open at least a year, increased 6.2%, fueled by more visits to its locations.
