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Starbucks Lucky both exploded: one family evaporated hundreds of billions overnight, and one family turned from profit to loss

Published: 2026-05-16 Author:

Last Updated: 2026/05/16, ▲ Click to pay attention| Daily Boutique Coffee Culture Magazine Coffee Factory has just entered May, which is an unpleasant start to the new season for coffee giant Starbucks. On May 1, local time, Starbucks 'share price suffered an unprecedented stock price plunge in the U.S. stock market, falling nearly 18% at one point. As of the close of the day,

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The beginning of May is not a good start to a new quarter for coffee giant Starbucks.

Starbucks shares suffered an unprecedented plunge in the u.s. stock market on may 1st, falling nearly 18% at one point. By the close of the day, Starbucks shares were down 15.88%. The market capitalization has lost $15.915 billion (about 115 billion yuan) overnight, and the total market capitalization is now $83.318 billion.

The collapse of Starbucks shares was closely related to its results for the second quarter (January 1-March 31, 2024) announced the day before. The data show that Starbucks' revenue, earnings per share and other key indicators are lower than market expectations, especially same-store sales fell 4% year-on-year, not only contrary to market expectations of a 1.46% increase, but also Starbucks' first decline since 2020.

So in a conference call with investors, Starbucks cut its full-year revenue growth forecast to low single digits, and this is the third time Starbucks has revised its 2024 growth forecast.

It is worth noting that Ruixing also recently disclosed its first-quarter results. In the first three months of this year, Lucky added 2342 stores, bringing the total to 18590.

The proliferation of offline stores brought lucky 6.278 billion yuan in revenue, up 41.5% from the same period last year, but down 11% from the previous quarter. The financial report also shows that Lucky's net loss in the first three months was 71.42 million yuan, compared with a net profit of 564 million yuan in the same period last year.

In the past three months, both Starbucks and Lucky have been facing a situation where their products are unable to sell. Consumption degradation swept the world at present, consumers return to rational consumption, the original 9.9 price war makes consumers realize the product profit space of chain brands, and is more cautious in the choice of coffee products than ever before.

As a result, Starbucks, which takes the high-end route and sells high-priced coffee, is no longer immune from the price. All kinds of discount coupons began to appear in users' accounts, group purchases and other preferential activities on e-commerce platforms emerged one after another, and picking up money during the May Day holiday also launched a limited number of single cup 19.9 discounts. from this point of view, 9.9 yuan wind has finally blown into Starbucks stores, "disguised price reduction" is an indisputable fact.

As for Ruixing, one of the parties to the price war, Ruixing shrank again and again as a result of the 9.9 activity, and all kinds of products quietly changed back to the original price, triggering consumers' rebellious mentality. The number of stores increased but the revenue of individual stores declined, among which the same-store sales of self-operated stores decreased by 20.3% during the period.

In addition, the promotion means such as the continuous launch of all kinds of new products and cooperation with well-known IP are becoming more and more difficult to accurately step on the preferences of consumers now. at the same time, more and more consumers are familiar with the new products of the brand side, and they are not willing to spend time and energy chasing the brand side in every activity.

The fast-growing Chinese coffee market is full of unlimited opportunities, but the change of public consumption concept and the consumption degradation under the general environment are all great challenges for chain coffee brands. Whether Starbucks and Ruixing can turn losses into profits in the fierce industry competition, it remains to be seen whether Starbucks and Ruixing can turn losses into profits through more current consumer-preferred operations.

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