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Starbucks Pumps the Brakes in Its Home Market

With Schultz exiting, it’s now up to CEO Kevin Johnson to decide where to slow versus grow.

Bloomberg business news
Starbucks Retrenches in Home Market as Sales Growth Slows
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Americans' long-running joke about a Starbucks on every corner may be nearing its end.

The coffee behemoth is retrenching in its home market as it contends with sales growth that Chief Executive Officer Kevin Johnson acknowledges isn’t fast enough. The cafe chain said Tuesday it expects comparable sales to rise just 1 percent globally for the current quarter—the worst performance in about nine years. That’s well below the 2.9 percent analysts were expecting, according to Consensus Metrix.