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Starbucks profit forecast misses estimates

As Asia, Europe slows.
Starbucks Corp., the world’s biggest coffee chain, projected second-quarter profit that missed analysts’ estimates after its results suffered in Asia and Europe.

Excluding some items, earnings will be 38 cents to 39 cents in the period, the Seattle-based company said in a statement Thursday. Analysts had estimated 40 cents on average, according to data compiled by Bloomberg. Though growth in Starbucks’ home region grew faster than expected last quarter, the company’s same-store sales slowed in Asia and Europe.

©2016 Bloomberg News
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