Reported about 9 hours ago
Starbucks' stock fell 5.7% following a disappointing second-quarter earnings report, which showed a 2% decline in comparable U.S. store sales for the fifth consecutive quarter. CEO Brian Niccol acknowledged the underwhelming results but expressed confidence in the company's turnaround strategy, 'Back to Starbucks'. Despite some positive trends in transactions, challenges remain, particularly in China, where competition is intensifying and customers are spending less.
Source: YAHOO