Starbucks growth cools, coffee shop sales miss targets

© Reuters. A Starbucks logo is seen at a Starbucks coffee bar in Vienna

(Reuters) – Starbucks Corp’s (O:-RRB- quarterly cafe sales growth missed out on analysts’ price quotes, cooling in all major markets and sending shares down nearly 5 percent on Thursday. The world’s biggest coffee chain said worldwide sales at company-owned cafes open at least 13 months in the financial third quarter ended June 26 increased 4 percent from the year-ago period. That was well short of the general same-cafe sales gain of 5.6 percent analysts had actually expected, according to research company Agreement Metrix. The U.S.-dominated Americas area’s sales at established coffee shops were up 4 percent, missing analysts’ require a gain of 6.1 percent. Those sales were up 7 percent in the 2nd quarter and 9 percent in the first quarter. Starbucks, which is investing in mobile buying and payments to serve customers quicker, has been under fire from employees who say a recent transfer to cut labor hours has injured take-home pay, spirits and customer care. Starbucks shares fell 4.7 percent to $57.59 in extended trading. Disclaimer: Fusion Media would like to remind you that the data consisted of in this website is not always real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex costs are not provided by exchanges however rather by market makers, and so costs might not be precise and might differ from the real market value, suggesting costs are a sign and not proper for trading functions. Therefore Fusion Media does n`t bear any responsibility for any trading losses you might incur as an outcome of using this information. Blend Media or anyone included with Blend Media will decline any liability for loss or damage as an outcome of reliance on the details consisting of information, quotes, charts and buy/sell signals consisted of within this website. Please be completely notified regarding the threats and expenses related to trading the monetary markets, it is one of the riskiest financial investment types possible.

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