A Starbucks coffee shop on the Strip (Las Vegas Boulevard) in Las Vegas, Nevada.
Robert Alexander—Getty Images
By Lisa Baertlein / Reuters
April 21, 2016

Starbucks on Thursday reported cafe sales growth that fell short of expectations in every region where it operates, sending shares of the world’s largest coffee chain down 4.6%.

Seattle-based Starbucks said global sales at cafes open at least 13 months rose 6% in the fiscal second quarter ended March 27, compared with the year-ago period. Analysts had expected an overall same-cafe sales gain of 6.7%, according to research firm Consensus Metrix.

Those results included a 7% gain from the Americas region, which accounts for the majority of Starbucks‘ business. The China/Asia Pacific region (CAP) had a 3% increase. Europe, the Middle East and Africa (EMEA) reported growth of just 1%.

Analysts had expected gains of 7.4% for the Americas, 4.6% from CAP and 3.4% from EMEA.

Second-quarter net income was $575.1 million, or 39 cents per share, matching the average of analysts’ profit estimates complied by Thomson Reuters I/B/E/S.

Starbucks shares fell to $57.87 in extended trading, off their all-time high of $62.57 on Oct. 1.

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