U.S. Stock-Index Futures Retreat; Starbucks Declines in Europe
Starbucks Corp. dropped in Europe after the world's biggest coffee-shop chain said profit fell for the first time in five years.
Starbucks said fourth-quarter profit declined 5.2 percent to $117.3 million, or 15 cents a share. Excluding some costs, earnings were 17 cents a share, meeting the estimate of John Glass, an analyst with CIBC World Markets. Sales of $2 billion missed the average Thomson Financial estimate of $2.02 billion. Starbucks dropped $2.19 to $37.24 in Germany.
By Ludwig Burger, Nov. 17 (Bloomberg)
Starbucks said fourth-quarter profit declined 5.2 percent to $117.3 million, or 15 cents a share. Excluding some costs, earnings were 17 cents a share, meeting the estimate of John Glass, an analyst with CIBC World Markets. Sales of $2 billion missed the average Thomson Financial estimate of $2.02 billion. Starbucks dropped $2.19 to $37.24 in Germany.
By Ludwig Burger, Nov. 17 (Bloomberg)
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