Thursday February 27, 2020

Starbucks cool on profits forecast

Slowdown dents sales in coffee chain's 1,800 China cafes

30th October, 2015
Starbucks shares have fallen. Pic: Bloomberg

Seattle-based Starbucks disappointing profit forecast has sent its shares lower despite strong sales at established outlets.

The world's biggest coffee chain said yesterday that figures would be dented by the strong US dollar and the slowdown in China.

The company which is known for its cautious estimates, offered little consolation into 2016 for investors concerned that shares are over-priced after a surge of 60 per cent over twelve months.

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