The Traderszone Network

Published in TZ Latest News 21 January, 2016 by The TZ Newswire Staff

Starbucks profit forecast misses estimates; shares fall

The world’s biggest coffee chain said Asia Pacific sales at cafes open at least 13 months rose 5 percent in the first quarter ended Dec. 27, but that missed the 6.10 percent increase expected by analysts polled by research firm Consensus Metrix. Operating margin also declined 240 basis points to 19.4 percent in the region, primarily due to the impact of ownership change of Starbucks Japan in the quarter. Both handily beat analysts’ estimates.