Starbucks Sales Lag Estimates on U.S. Breakfast Battle
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Starbucks Corp., the world’s biggest coffee-shop chain, posted quarterly revenue that missed estimates as increased competition for breakfast diners’ dollars restrained U.S. sales.
Revenue in the fiscal fourth quarter, which ended Sept. 28, rose 10 percent to $4.18 billion, the Seattle-based company said yesterday in a statement. Analysts projected $4.24 billion.