Friday, April 28, 2017

Coffee giant meets profit expectations but sales miss

Starbucks Corp. met profit expectations for its second quarter even as its sales disappointed.  
 
The retailer’s net earnings increased 13.5%, to $652.8 million, or 45 cents a share, in line with expectations. Revenue totaled $5.28 billion, less than expected.
 
Same-store sales rose 3%, also below forecasts, as average tickets rose 4%. Customer transactions were down 2%, which the company attributed to a change in its rewards program.. . . more

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