LOS ANGELES (Reuters) - Starbucks Corp <SBUX.O> posted lower quarterly profit on Monday on weakness in its U.S. business and began booking charges related to closing 600 domestic stores.
The Seattle-based coffee chain reported fiscal fourth- quarter net income of $5.4 million, or 1 cent per share, compared with its year-earlier net profit of $158.5 million, or 21 cents per share.
Excluding charges related to restructuring and store closure costs, Starbucks had a per-share profit of 10 cents, below analysts 13-cent average Wall Street target, according to Reuters Estimates.
Total revenue grew a slower than expected 3 percent to $2.5 billion from $2.4 billion, as its U.S. business deteriorated from the prior quarter and contributed to an 8 percent decline in sales at established stores.
Without issuing a new earnings forecast for 2009, Starbucks said that, based on a 2 percent decline in overall comparable store sales, it would have earnings of about 90 cents per share, excluding items.
Starbucks said in July it expected fiscal 2009 adjusted earnings of 90 cents to $1 per share.
The company's shares fell 2.3 percent to $9.97 after closing down 3 percent at $10.20 on Nasdaq.
(Reporting by Lisa Baertlein; Editing by Andre Grenon)
Publié le 10 novembre 2008 Copyright © 2008 Reuters
Partager sur:
