Starbucks: sees slower profit growth, shares drop
(CercleFinance.com) - Starbucks said on Wednesday that its earnings growth should slow in fiscal year 2019/2020, which sent its shares down 3% on the Nasdaq.
At Goldman Sachs annual retailing conference, the world's biggest coffee chain forecast full-year EPS growth below its current growth model of at least 10%.
At its last investor day in late 2018, the company said that for fiscal year 2019/2020, which will start in October, it was forecasting EPS growth of at least 13%.
For fiscal year 2018/2019, ending in September, Starbucks said it expects EPS growth of 16%, well above the 8% to 10% growth that it was looking for at the start of the fiscal year.
Starbucks said it will officially provide guidance for 2019/2020 when it posts its fourth-quarter earnings, on 30 October.
Its shares are currently down 3.2% at 93.7 dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
At Goldman Sachs annual retailing conference, the world's biggest coffee chain forecast full-year EPS growth below its current growth model of at least 10%.
At its last investor day in late 2018, the company said that for fiscal year 2019/2020, which will start in October, it was forecasting EPS growth of at least 13%.
For fiscal year 2018/2019, ending in September, Starbucks said it expects EPS growth of 16%, well above the 8% to 10% growth that it was looking for at the start of the fiscal year.
Starbucks said it will officially provide guidance for 2019/2020 when it posts its fourth-quarter earnings, on 30 October.
Its shares are currently down 3.2% at 93.7 dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.