Companies

Starbucks sales grow at slowest pace in a year

Starbucks now sees global and US same-store sales expanding in a range of 4 per cent to 6 per cent this year

Starbucks lowered its full-year sales outlook amid a range of global challenges. Picture: Pascal Le Segretain/Getty Images

Starbucks lowered its full-year sales outlook while maintaining confidence in its 2024 profit goal, with executives predicting that greater efficiency, new stores and a core of loyal customers will offset a dip in revenue growth.

The company posted its slowest same-store sales last quarter in a year, prompting the coffee giant to lower its sales projection for the full year.

Still, the pressures that caused the underperformance are transitory, Rachel Ruggeri, its chief financial officer, ...