Starbucks reported a same-store sales decline for the second quarter of 2024, for the first time in almost three years since the peak of the pandemic, as shares of the Seattle-based coffee chain plummeted 16% over the past day.
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The restaurant experienced over 4% traffic growth during the quarter in which most of its peers experienced a more cautious consumer.
The restaurant company’s continued acquisitions keep growing revenue, but debt-to-income ratio remains a problem
