Starbucks Stock Reaches Record High Following Successful Q3

According to an article on Barron’s, shares of Starbucks "rose to all-time highs” following the coffee chain’s Q3 earnings call. “Starbucks stock was up 7% to $97.36 near midday in New York,” the article stated. An earlier high of $97.93 marked a record for the shares, which had risen 41% in 2019 through Thursday’s close.

“Earnings, revenue, and global same-store sales all beat WallStreet’s expectations,” the article stated. “The company lifted its year-end targets for all three numbers Thursday evening.”

Among the key strategies laid out by the company was the continued focus on Starbucks' app-based rewards program, which hit the 17.2 million 90-day active user mark, and is growing 14% year-after-year.

According to the article, one interesting highlight was when Starbucks management said that in the Americas, where same-store sales rose 7% during the quarter, cold drinks were a standout. The combination of improved digital execution, beverage innovation, sizable general and administrative savings initiatives and more have all contributed to the record-breaking stock prices.

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