来源：智通财经APP 在星巴克(SBUX.US)强调其首席执行官尼科尔(Brian Niccol)逆转长期销售下滑计划的进展后，该公司股 价周二盘后上涨。尽管该公司2025财年第三财季的同店销售额和利润未达市场预期，但投资者关注的是 财报中的积极信号，包括自2023年底以来中国市场首次实现销售增长。尼科尔在事先准备好的发言中表 示，转型计划"进展超出预期"，并承诺将在2026年"掀起一波创新浪潮"。 尼科尔表示，尽管财务表现尚未完全体现出改革成果，但复兴步伐已领先于预期。他提到，根据自己过 往在Chipotle成功应对食品安全危机的经验，目前公司势头正在转强。受此消息影响，截至发稿，星巴 克周二美股盘后涨逾4%。 而在中国这个星巴克的第二大市场，该公司通过下调部分茶类饮品价格、增加无糖选项等方式应对长期 疲软态势。这些举措在本季度初见成效，交易笔数增长6%，同店销售额上涨2%。 这是星巴克中国业务一年半以来首次实现同店销售增长。据此前报道，星巴克一直在考虑出售其中国业 务部分股权。尼科尔在财报电话会议上表示，已有超过20家机构对此表现出兴趣，该公司希望保留"有 分量的"股份。 星巴克表示，其运营利润率在Q3下 ...

Core Viewpoint - Starbucks is experiencing a turnaround under CEO Brian Niccol, with a focus on reversing long-term sales declines and implementing a transformation plan that has shown early positive results, particularly in the Chinese market [1][2]. Financial Performance - For Q3 FY2025, Starbucks reported a revenue increase of 3.8% year-over-year to $9.456 billion, surpassing market expectations of $9.31 billion [1]. - Adjusted earnings per share were $0.50, a 46% decline year-over-year, falling short of the expected $0.65 [1]. - Same-store sales decreased by 2%, worse than the anticipated decline of 1.5%, marking the sixth consecutive quarter of decline [2]. - In the U.S., same-store sales also fell by 2%, while in China, same-store sales grew by 2%, marking the first increase in a year and a half [1][2]. Strategic Initiatives - Niccol's strategy includes reducing wait times, updating the menu, and renovating stores to enhance the customer experience in the U.S. market [2]. - The company has reduced store construction costs by 30% and is focusing on improving service speed and customer satisfaction through increased staffing and prioritizing dine-in and drive-through orders [2]. - In China, Starbucks has implemented price reductions on certain tea beverages and introduced more sugar-free options, leading to a 6% increase in transaction volume and a 2% rise in same-store sales [2][3]. Market Outlook - Despite the positive signals, the overall financial data has not yet fully reflected the progress of the transformation efforts [2]. - The company’s operating profit margin decreased in Q3 due to expenses related to the transformation plan and inflationary pressures [3]. - Starbucks plans to invest an additional $500 million in labor costs for U.S. company-operated stores over the next year, but maintains a cautious outlook for the remainder of the fiscal year due to uncertainties in consumer behavior [3].

星巴克公司周二盘后公布第三季度财报显示，尽管该公司同店销售额和利润均低于市场预期，但该首席执行官尼科尔（Brian Niccol）表示，星巴克福星计 划"进展超前"，而且中国市场自2023年以来首次录得增长，该公司股价周二盘后一度上涨4.6%。 以下是星巴克第三季度财报要点： 主要财务数据： 营收：星巴克第三季度营收为95亿美元，超出分析师预期的93.1亿美元。 同店销售额：星巴克第三季度同店销售额下降2%，跌幅高于StreetAccount预计的1.3%。 净利润：星巴克本第三季度归属于公司的净利润为5.583亿美元，合每股49美分，较去年同期的10.5亿美元或每股93美分大幅下滑。 调整后每股收益：星巴克第三季度调整后每股收益为50美分，不及分析师预期的65美分。 星巴克股价在盘后交易中一度上涨4.6%，涨幅随后收窄至3%左右。截至周二收盘，星巴克今年股价累计上涨1.9%，远低于标准普尔500指数8.3%的涨幅。 在过去一年半的时间里，星巴克经历了罕见的同店销售连续下滑，目前正处于全面改革阶段。自去年9月上任以来，尼科尔计划通过缩短等候时间、更新菜 单、重新装修门店以恢复座位区，从而提振美国市场业务。 尽 ...