Starbucks Shares Fall on Concern That Profit Growth Will Ebb

Starbucks Corp., the world’s biggest coffee-shop chain, fell the most in more than three months on concern that ingredient prices and a push to open more stores will weigh on profit growth.

The company said yesterday that it’s investing in new locations and technology, as well as spending money on the Fizzio soda line and a packaged-goods business. It also faces climbing coffee prices and worker costs, including a new tuition-reimbursement program. While Starbucks expects long-term earnings growth of 15 percent to 20 percent, the numbers may come in at the low end of that range next year, Chief Financial Officer Scott Maw said on a conference call.