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Starbucks shares tumble on fears of slowing US growth

The coffee chain's latest quarterly report triggered concerns of a slowdown in sales in the US

Reuters 

Starbucks Corp's shares were on track for their worst one-day decline in five years on Friday as the coffee chain's latest quarterly report triggered concerns of a slowdown in sales in the United States, its biggest market. While Starbucks' profit met Wall Street expectations in its first quarter under new CEO Kevin Johnson, the results suggested that growth in the coffee chain's member loyalty program was slowing, a trend that could impact future sales. Starbucks' U.S. rewards membership rose 8 percent in the quarter ended July 2 — a rate that lags the ...

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First Published: Fri, July 28 2017. 21:25 IST
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