Markets

U.S. open in 23 hrs, 33 mins

DJIA

11,288.54

73.03

0.65%

NASDAQ

2,245.38

-6.08

0.27%

S&P 500

1,262.90

1.38

0.11%

10yr Note

99.125

-0.1562

0.16%

FTSE 100

5,412.80

-63.80

1.16%

Nikkei 225

13,237.89

-27.51

0.21%

Hang Seng

21,423.82

181.04

0.85%

Euro (in USD)

1.57

0.0008

0.05%

Yen (per USD)

106.75

-0.04

0.04%

Oil

145.29

1.72

1.20%

Gold

933.60

-12.90

1.36%

BUSINESS NEWS

INVESTING

PERSONAL FINANCE

SMALL BUSINESS

Starbucks Shares Sink on Profit Warning

Reuters

Posted: 2008-04-23 17:43:49

Filed Under: Earnings

LOS ANGELES (April 23) - Starbucks Corp on Wednesday warned of weaker-than-expected earnings for the second quarter and full year due to weak U.S. consumer spending that led to a drop in sales at established stores.

Photo Gallery

Bebeto Matthews, AP

Starbucks' Turnaround Plan

1 of 7

Starbucks is launching three new drinks this summer, including a smoothie-like beverage made of fresh fruit and an icy Italian coffee-based beverage and an energy drink, as the company eyes healthier drink and food products.
From BloggingStocks: New Drinks Won't Save Starbucks

The company, which has been trying to revive business in the United States, said it expects first-quarter earnings per share of 15 cents.

Wall Street analysts, on average, had been expecting earnings of 21 cents per share, according to Reuters Estimates. In the same period last year, Starbucks earned 19 cents a share.

(Reporting by Nichola Groom)

Copyright 2008 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. All active hyperlinks have been inserted by AOL.

2008-04-23 16:57:42

Must Read?

0 %

100 %

0 VOTES

Recent Comments

Post Your Own

1 - 4 of 4

4 comments

Lawrencenyc4 02:11:30 AM Apr 24 2008

Report This!

Who cares? There're way too many rumors coming out each day. Who knows which one is true and which one is not. It's said britney is now on wealthymingle.com finding her son a new father.
-------------------------------
PS. You may use IE or Firfox web browser to access that site because of tons of traffic to that site everyday!

OprahOsamaObama 12:37:27 AM Apr 24 2008

Report This!

I find Racetrac and now McDonalds has some really good iced coffees for a fraction of the cost. I laugh when my friends order a "mocha capa frapachino, tall with a hint of cinnamon".....joke is truly on them (and their wallet since Starbucks continue to raise prices and NOT offer FREE WIFI.....that everyone else offers free!!!)

I say GOOD RIDDANCE TO STARBUCKS!!!