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 per ...
Register to view this article
It’s free but we need to know a little about you to continually improve our content.
Registering allows you to unlock a portion of our premium online content. You can access more in-depth stories and analysis, as well as news not found on any other website or any other media outlet. You also get free eNewsletters, blogs, real-time polls, archives and more.
Attention Print Subscribers: While you have already been granted free access to NRN we ask that you register now. We promise it will only take a few minutes!
Questions about your account or how to access content?