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Starbucks slumps on fiscal Q2 results miss amid weakness in North America, China

Investing.com - Starbucks slumped afterhours Tuesday after fiscal second-quarter results fell short of Wall Street estimates as weaker sales in North America and China weighed on performance. 

Starbucks Corporation (NASDAQ:SBUX) shares lost 10% in after-hours trade following the report.

Starbucks reported earnings of $0.68 on revenue of $8.60 billion. Analysts polled by Investing.com anticipated EPS of $0.80 cents on revenue of $9.13B.

The weaker performance was driven by a slip in comparable store sales in the quarter amid a "highly challenged environment," the company said.

Comparable store sales decreased 4%, confounding consensus estimates for a 1% increase asNorth America comparable store sales fell 3%, and international comparable store sales fell 6%, pressured by a 11% decrease in China.

 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.