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The Zacks Analyst Blog Starbucks, McDonald's and Dutch Bros
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For Immediate Releases
Chicago, IL – March 9, 2026 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Starbucks Corp. (SBUX - Free Report) , McDonald's Corp. (MCD - Free Report) and Dutch Bros Inc. (BROS - Free Report) .
Here are highlights from Monday’s Analyst Blog:
Starbucks' Traffic Trends Improve: Is the Recovery Taking Shape?
Starbucks Corp. reported a notable improvement in customer traffic during first-quarter fiscal 2026, signaling a potential turning point after several quarters of soft store visits.
Global comparable-store sales increased 4% year over year, supported primarily by higher transactions rather than pricing. In the United States — Starbucks’ largest market — comparable sales also rose 4%, driven by a 3% increase in transactions and a modest 1% rise in average ticket. Importantly, the quarter marked the first U.S. transaction growth in eight quarters, highlighting improving customer engagement following a prolonged traffic slowdown.
The company credited the improvement to operational initiatives tied to its “Back to Starbucks” strategy, which focuses on enhancing the in-store experience, improving service speed and strengthening execution at the store level. A central component of this strategy is the Green Apron Service model, designed to increase staffing efficiency and deliver faster service. Early stores adopting the Green Apron Service model are showing encouraging customer feedback and operational improvements.
Digital engagement also remained a critical driver of visits. Starbucks Rewards membership reached a record 35.5 million active members in the United States, reinforcing the loyalty ecosystem that accounts for a significant portion of transactions. Management noted that transactions from both rewards and non-rewards customers increased year over year, marking the first such improvement in several years.
International markets also supported the traffic rebound. The company’s international segment posted 5% comparable sales growth, driven by transaction gains across several regions. China — Starbucks’ second-largest market — delivered 7% comparable sales growth, benefiting from product innovation, marketing initiatives and steady demand in delivery channels.
While the company continues to navigate cost pressures and ongoing investments in store operations, the return of transaction growth suggests that Starbucks’ focus on service improvements and customer experience may be beginning to translate into measurable demand recovery.
How Starbucks’ Traffic Trends Compare with Peers
Customer traffic trends across the restaurant and beverage industry remain uneven, with companies relying on different levers to drive visits. Compared with peers, Starbucks is now beginning to show improving transaction momentum after a period of softer demand.
For example, McDonald's Corp. reported solid guest traffic performance in the fourth quarter of 2025. Global comparable sales increased 5.7%, supported by positive guest counts and higher average checks, with U.S. comparable sales rising 6.8%. Management attributed the strength to value-focused offerings, large-scale marketing campaigns and menu innovation, all of which helped drive steady customer visits despite a challenging consumer environment.
Meanwhile, Dutch Bros Inc., a fast-growing beverage chain, continues to deliver strong transaction-driven growth. The company reported 7.7% system same-shop sales growth in the fourth quarter of 2025, fueled by 5.4% transaction growth, reflecting strong demand for beverage innovation and increasing adoption of its Dutch Rewards loyalty program.
Against this backdrop, Starbucks’ return to positive transaction growth stands out because it follows eight consecutive quarters of declining U.S. transactions. While McDonald’s and Dutch Bros have maintained relatively steady traffic trends through value offerings, innovation and loyalty engagement, Starbucks’ recent improvement suggests its operational reset and service-focused initiatives may be starting to stabilize store visits.
SBUX’s Price Performance, Valuation & Estimates
Shares of Starbucks have declined 6.7% in the past year compared with the industry’s fall of 3.1%.
From a valuation standpoint, Starbucks trades at a forward price-to-sales ratio of 2.85, below the industry’s average of 3.76.
The Zacks Consensus Estimate for SBUX’s fiscal 2026 earnings per share (EPS) implies a year-over-year uptick of 8.5%. The EPS estimates for fiscal 2026 have remained unchanged in the past 30 days.
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Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Previewreports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Starbucks, McDonald's and Dutch Bros
For Immediate Releases
Chicago, IL – March 9, 2026 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Starbucks Corp. (SBUX - Free Report) , McDonald's Corp. (MCD - Free Report) and Dutch Bros Inc. (BROS - Free Report) .
Here are highlights from Monday’s Analyst Blog:
Starbucks' Traffic Trends Improve: Is the Recovery Taking Shape?
Starbucks Corp. reported a notable improvement in customer traffic during first-quarter fiscal 2026, signaling a potential turning point after several quarters of soft store visits.
Global comparable-store sales increased 4% year over year, supported primarily by higher transactions rather than pricing. In the United States — Starbucks’ largest market — comparable sales also rose 4%, driven by a 3% increase in transactions and a modest 1% rise in average ticket. Importantly, the quarter marked the first U.S. transaction growth in eight quarters, highlighting improving customer engagement following a prolonged traffic slowdown.
The company credited the improvement to operational initiatives tied to its “Back to Starbucks” strategy, which focuses on enhancing the in-store experience, improving service speed and strengthening execution at the store level. A central component of this strategy is the Green Apron Service model, designed to increase staffing efficiency and deliver faster service. Early stores adopting the Green Apron Service model are showing encouraging customer feedback and operational improvements.
Digital engagement also remained a critical driver of visits. Starbucks Rewards membership reached a record 35.5 million active members in the United States, reinforcing the loyalty ecosystem that accounts for a significant portion of transactions. Management noted that transactions from both rewards and non-rewards customers increased year over year, marking the first such improvement in several years.
International markets also supported the traffic rebound. The company’s international segment posted 5% comparable sales growth, driven by transaction gains across several regions. China — Starbucks’ second-largest market — delivered 7% comparable sales growth, benefiting from product innovation, marketing initiatives and steady demand in delivery channels.
While the company continues to navigate cost pressures and ongoing investments in store operations, the return of transaction growth suggests that Starbucks’ focus on service improvements and customer experience may be beginning to translate into measurable demand recovery.
How Starbucks’ Traffic Trends Compare with Peers
Customer traffic trends across the restaurant and beverage industry remain uneven, with companies relying on different levers to drive visits. Compared with peers, Starbucks is now beginning to show improving transaction momentum after a period of softer demand.
For example, McDonald's Corp. reported solid guest traffic performance in the fourth quarter of 2025. Global comparable sales increased 5.7%, supported by positive guest counts and higher average checks, with U.S. comparable sales rising 6.8%. Management attributed the strength to value-focused offerings, large-scale marketing campaigns and menu innovation, all of which helped drive steady customer visits despite a challenging consumer environment.
Meanwhile, Dutch Bros Inc., a fast-growing beverage chain, continues to deliver strong transaction-driven growth. The company reported 7.7% system same-shop sales growth in the fourth quarter of 2025, fueled by 5.4% transaction growth, reflecting strong demand for beverage innovation and increasing adoption of its Dutch Rewards loyalty program.
Against this backdrop, Starbucks’ return to positive transaction growth stands out because it follows eight consecutive quarters of declining U.S. transactions. While McDonald’s and Dutch Bros have maintained relatively steady traffic trends through value offerings, innovation and loyalty engagement, Starbucks’ recent improvement suggests its operational reset and service-focused initiatives may be starting to stabilize store visits.
SBUX’s Price Performance, Valuation & Estimates
Shares of Starbucks have declined 6.7% in the past year compared with the industry’s fall of 3.1%.
From a valuation standpoint, Starbucks trades at a forward price-to-sales ratio of 2.85, below the industry’s average of 3.76.
The Zacks Consensus Estimate for SBUX’s fiscal 2026 earnings per share (EPS) implies a year-over-year uptick of 8.5%. The EPS estimates for fiscal 2026 have remained unchanged in the past 30 days.
Starbucks stock currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can access their live picks without cost or obligation.
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Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Previewreports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.