Can China and Italy Boost Starbucks' Slowing Growth?
Starbucks (NASDAQ: SBUX) is hoping international expansion will be the shot of caffeine that its growth story needs.
The Seattle-based coffee maker reported fourth-quarter same-store sales and revenue that missed analyst expectations, causing consternation among some investors.
Starbucks' same-store sales were up 2% in the quarter, lower than the 3.3% analysts were expecting and half of the 4% reported in last year's fourth quarter. Revenue decreased by 0.23% year over year to $5.7 billion, versus the $5.8 billion analysts had predicted. In last year's fourth quarter, the company notched a 16% revenue jump. The company noted that the hurricanes that hit the U.S. this season negatively affected sales. Starbucks said global comps were up 3% excluding the impact of Hurricanes Harvey and Irma.
Source: Fool.com
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