Starbucks, the world's largest coffee chain,
posted lower than expected earnings numbers Thursday, blaming the
global economic slowdown for reducing customers' discretionary
The Seattle-based company said global revenues for its third quarter rose 13 per cent to 2.2 billion dollars (1.8 billion euros), while earnings rose 19 per cent from 279 million dollars to 333 million dollars. The company's stock price dropped 9 per cent in after-hours trading.
Though the figures came in below expectations, Starbucks CEO Howard Schultz said he was pleased with the results "in the face of high legacy commodity costs and challenging economic and consumer headwinds in key markets."
Most Popular Stories
- European Car Sales up First Time in 20 Months
- Entrepreneurs Chase Social Media
- Schedule packed with talent at the Fox
- Manila's Hollywood Week
- I never set out to be a role model but it's great to be one ; IN THE HOTSEATBetter known by his stage name Wretch 32, Jermaine Sinclair is a 28-year-old rapper from London. In 2011 his debut album Black and White sold over a million copies and scored three top five singles. His latest single Blackout was released this week
- Austin musicians point to a variety of reasons to appreciate McCartney
- Financial Times Twitter, Email Hacked
- Apple's iPhones, iPads Approved for Military Use, Sir Yes Sir!
- SINCE YOU ASKED [Pittsburgh Tribune-Review (PA)]
- 'Star Trek Into Darkness': The Return of Khan?