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Shares of Starbucks (SBUX) have corrected lower in May after hitting an all-time high in April as investors bet the company will benefit from the reopening world economy. How did Starbucks do in Q2? Here’s how Starbucks performed in its fiscal second quarter. The company posted earnings per share (EPS) of $0.62 on an adjusted basis to easily top the $0.53 cents expected from the surveyed market analysts. However, the company delivered a miss on the sales front as revenues came in at $6.7 billion vs $6.8 billion expected. The company said that net sales jumped by 11% to $6.7 billion, fueled by global same-store sales growth of 15%, while the US same-store sales lagged with a rise of 9%. Again, China leads the recovery after the company’s second-largest market recorded same-store sales growth of 91%. Transactions in China were up 93% in the quarter, although the average ticket dropped by 1%. Kevin Johnson, President, and CEO of the company said he is “very pleased” with the progress made in the current fiscal year as Q2 results show “impressive momentum” that his coffee business made so far. Sales in the US have fully recovered now, which shows the ability “to adapt to changes in our environment and the needs of our customers.” Starbucks also offered guidance as it now expects to make a profit between $2.65 per share and $2.75 per share for the full 2021 year, which is higher compared to a $2.42 - $2.62 range communicated earlier. On an adjusted basis, the company is looking to earn $2.90 to $3 per share with the midpoint of $2.95 per share coming ahead of the $2.85 per share consensus at Wall Street. For sales, the company also upgraded its full-year guidance to now expect revenues in a range of $28.5 billion to $29.3 billion, up from a prior range of $28 billion to $29 billion, while the Street was looking for $28.6 billion. Reopening Investors lifted the Starbucks stock as high as $119 in 2021 as they expect that people will spend more time outside and socializing after being stuck at homes for over a year. Since the April high the price slid by 8.61%, but the overall trend remains bullish, and the world economy still has a long way in healing after the pandemic, which is one of the reasons why investors see Starbucks as one of the stocks to watch this week and in the coming period. According to the U.S. Centers for Disease Control and Prevention, it’s safe for people to stop wearing masks in most situations. Most businesses and organizations all over the United States happily welcomed this announcement and have changed their face covering policies. The multimillion-dollar coffee empire says they will follow local and state regulations, and if mandatory, masks will still be required at some locations. “Facial coverings will be optional for vaccinated customers beginning Monday, May 17, unless local regulations require them by law,” Starbucks said. The company added that its restrooms will remain temporarily closed to the public in stores where seating is unavailable. Dow Jones Daily Chart