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Starbucks’ Global Sales Miss Estimates Despite U.S. Strength
Bloomberg 2 hrs ago Leslie Patton and Ed Ludlow
(Bloomberg) Starbucks Corp.’s global growth fell short of expectations, overshadowing strong U.S. results and an improved sales outlook for the full year.
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Gains across all regions were expected in the company’s second quarter after the weakness of a year ago amid lockdowns and Covid-19’s spread. But the global same-store sales increase a closely watched metric of 15% was short of the 17% estimate compiled by Bloomberg, reflecting pockets of weakness in the global recovery, even as a rebound is apparent in the coffee giant’s key markets of China and the U.S.