© Reuters. Starbucks: Forecasts below expectations, the title drop
(Reuters) – Starbucks (NASDAQ:SBUX) announced Tuesday a forecast of same-store sales for the current quarter below the expectations of analysts and the coffee chain in the us has also said they expect weaker growth in net sales points in the United States for the fiscal year 2018-2019.
In exchange after Exchange, the title Starbucks, unchanged since the beginning of the year on the basis of its closing price Tuesday of 57,43 dollars, fell nearly 3%.
For the third quarter of the fiscal year 2017-2018, Starbucks has said to anticipate a global increase in sales of stores open for at least one year of 1% while the analysts had expected an increase of 3%, according to the consensus Thomson Reuters I/B/E/S.
“We need to act more quickly to take into account the speed at which change to the needs and preferences of our customers,” said Kevin Johnson, ceo of Starbucks, was quoted in a press release.
(Uday Sampath in Bangalore, Benoit Van Overstraeten for the French service)