Starbucks high end of '07 view "very challenging" |
| MSN Money - Jun 21, 2007 |
Starbucks Corp.'s chief financial officer on Thursday said meeting the high end of the coffee shop chain's 2007 earnings forecast will be "very challenging" due to rising dairy costs and slowing sales growth in its U.S. business, sending shares to a 20-month low.
CFO Michael Casey also said the company would maintain the number of U.S. store openings at about 1,700 annually for the next few years to relieve pressure on older outlets, and so the company can funnel more resources into international markets including China and Brazil.
Starbucks has forecast fiscal 2007 earnings of 87 cents to 89 cents per share, while analysts, on average, expect 89 cents per share, according to Reuters Estimates.
Read Full Article from MSN Money
- Posted: 2007-06-22 10:27:00
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