Starbucks cafe sales up 6% in second quarter
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Los Angeles
STARBUCKS Corp posted quarterly cafe sales that missed analysts' growth estimates for every region where it operates and issued a disappointing full-year forecast, sending its shares down about 4 per cent.
The world's largest coffee chain said that global sales at cafes open at least 13 months rose 6 per cent in the fiscal second quarter ended March 27, compared with the year-ago period. Analysts had expected an overall same-cafe sales gain of 6.7 per cent, according to research firm Consensus Metrix.
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