Advertisement
Canada markets close in 5 hours 12 minutes

  • S&P/TSX

    21,747.26
    -126.46 (-0.58%)
     

  • S&P 500

    5,002.95
    -68.68 (-1.35%)
     

  • DOW

    37,780.41
    -680.51 (-1.77%)
     

  • CAD/USD

    0.7300
    +0.0002 (+0.03%)
     

  • CRUDE OIL

    82.28
    -0.53 (-0.64%)
     

  • Bitcoin CAD

    86,919.63
    -2,156.20 (-2.42%)
     

  • CMC Crypto 200

    1,377.26
    -5.31 (-0.38%)
     

  • GOLD FUTURES

    2,355.90
    +17.50 (+0.75%)
     

  • RUSSELL 2000

    1,968.89
    -26.53 (-1.33%)
     

  • 10-Yr Bond

    4.7120
    +0.0600 (+1.29%)
     

  • NASDAQ

    15,440.84
    -271.91 (-1.73%)
     

  • VOLATILITY

    16.86
    +0.89 (+5.57%)
     

  • FTSE

    8,067.53
    +27.15 (+0.34%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • CAD/EUR

    0.6807
    -0.0012 (-0.18%)
     
BREAKING:

HONDA TO SET UP $15B EV PRODUCTION BASE IN CANADA

Automaker to get up to $5B in government assistance for EV battery, assembly plants

Starbucks president: 'It was a record quarter'

Abigail Stevenson
Updated
Starbucks president: 'It was a record quarter'

Starbucks (NASDAQ: SBUX) shares tumbled 4 percent in after-hours trading on Thursday following earnings that missed Wall Street expectations.

"Without a doubt, every business segment contributed to our performance. It was a record quarter for us," Starbucks President Kevin Johnson told Jim Cramer on "Mad Money." "And I think in every business there is just a great story underlying those numbers."





While Starbucks reported in-line earnings on slightly weaker than expected revenue, its 6 percent same-store sales growth was slower than anticipated.

"We posted 6 percent increase in comps globally, but if you go region by region, there is a story under each of those regions," Johnson said.

ADVERTISEMENT

Read more from Mad Money with Jim Cramer

Cramer Remix: The most dangerous stock group
Cramer: Oil deals are about to happen
Cramer: Intel could split in two

The increase in sales were driven mainly by sales in the U.S., which helped to offset slower growth of 1 percent in Europe.

"This is not the first time Starbucks has run into a speed bump, and in the past, whenever the stock has pulled back it has been a buying opportunity," Cramer said.

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram - Vine

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com



More From CNBC

  • Top News and Analysis

  • Latest News Video

  • Personal Finance