Reported about 8 hours ago
Starbucks stock fell by 6.7% in after-hours trading following a disappointing second quarter earnings report, which revealed a 2% decline in comparable store sales for the fifth consecutive quarter. CEO Brian Niccol described the results as disappointing but expressed confidence in the company's 'Back to Starbucks' turnaround plan. The earnings miss, including adjusted earnings per share lower than expected and a significant drop in profit, has raised concerns among investors, particularly regarding the company's performance in both the U.S. and competitive international markets like China.
Source: YAHOO