Starbucks' stock drops after disappointing 3Q results

Starbucks' stock drops after disappointing 3Q results

The company lowers forecast, cites waning consumer confidence

Starbucks reported a 19-percent increase in third-quarter profit late Thursday, but warned that the “fragile” economic picture began to slow traffic growth in U.S. locations, starting in June.

In a call to analysts following the company’s earnings report, Howard Schultz, the Starbucks chair, chief executive and president, said the results were less than expected for the 17,651-unit global chain. The company lowered expectations for the fourth quarter, saying earnings

Register to view the full article

Register to view this article

Already a member? .

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish