Starbucks Shows Turnaround Momentum While McDonald's Faces Cost Pressures

Earnings
โดย Zacks Investment Research·Read original
Summary · why it matters

Starbucks is showing encouraging signs in its turnaround, while McDonald's continues to navigate a challenging consumer environment. Starbucks reported its first year-over-year revenue and earnings growth in more than two years in the second quarter of fiscal 2026, with global comparable-store sales up 6% and North American comparable sales up over 7%. The company raised its fiscal 2026 outlook to at least 5% global comparable sales growth and a higher earnings-per-share range. McDonald's posted 3.8% global comparable sales growth and a 6% rise in constant-currency systemwide sales in the first quarter of 2026, gaining market share in nearly all of its top 10 markets. However, McDonald's acknowledged that U.S. company-operated restaurant margins were below expectations due to higher labor investments and restrained pricing, while franchisees face cash-flow pressure from rising input costs. Starbucks trades at a forward price-to-earnings multiple of 35.91 times, well above McDonald's 19.56 times, but its stronger earnings growth outlook and improving fundamentals give it a slight edge according to Zacks Investment Research.

Impact on stocks 2

Consumer Discretionary± Mixed · 2 stocks
McDonald’s Corporation
MCD
▼ NegativePricingrelevance

McDonald's U.S. company-operated restaurant margins below expectations due to restrained pricing and higher labor investments, and franchisees face cash-flow pressure from rising input costs.

Starbucks Corporation
SBUX
▲ PositiveDemandrelevance

Starbucks reported first year-over-year revenue and earnings growth in over two years, with global comparable-store sales up 6% and North American comparable sales up over 7%, and raised fiscal 2026 outlook.

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