Starbucks Corp. (SBUX) Earnings: Same-Store Sales Growth Shrinks In Most Regions, China Growth Fueled By Newer Stores
Starbucks Corp. shares plunged in after-hours trading Thursday after the world’s largest coffee chain missed revenue and store sales growth estimates for the first three months of the year. The company reported lower-than-expected global same-store sales growth compared with the same period last year, with flat year-over-year growth in the Americas, its strongest geographic region.
The news sent the company’s stock down more than 5 percent in after-hours trading in New York on Thursday, to $57.59.