Friday, November 4, 2016
Starbucks posts higher quarterly revenue, issues cautious forecast
Starbucks Corp reported better-than-expected quarterly results on Thursday, as sales in the U.S.-dominated Americas region soothed concerns that the world's biggest coffee seller had succumbed to a broader restaurant slump.
Starbucks gets the bulk of its sales from the United States, where it and other chains have been battling heady competition and unusually low grocery prices. The company signaled that sales at established U.S. cafes were strengthening slightly, outweighing disappointing profit outlooks for its traditionally robust holiday quarter and the full year.. . . more