Starbucks Forecast Trails Estimates as Asia Gains Slow
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Starbucks Corp., the world’s largest coffee-shop chain, repeated a forecast for fiscal 2014 profit that was lower than analysts’ estimates after sales gains slowed in Asia.
Profit excluding certain items will be as much as $2.65 a share in the year ending in September, the Seattle-based company said today in a statement, repeating guidance it gave in July. Analysts projected $2.67, on average. Starbucks also said full-year sales will rise 10 percent or more, compared with a previous forecast for growth of 10 percent to 13 percent.