Starbucks Corp. slumped in late trading on Tuesday after reporting a sales decline that was deeper than expected and the departure of Chief Operating Officer Roz Brewer.
Global same-store sales, a key gauge of restaurant success, fell 5% in the fiscal first quarter. That’s worse than the estimated decline of 4.2% compiled by Consensus Metrix. A 5% drop in the U.S. was just ahead of estimates, while a 5% gain in China beat expectations.
