(Reuters) - NEW YORK, June 21 - Starbucks Corp.'s
chief financial officer on Thursday said meeting the high end
of the coffee shop chain's 2007 earnings forecast will be "very
challenging" due to rising dairy costs and slowing growth in
its U.S. business, sending shares to a 20-month low.
CFO Michael Casey also said the company would maintain the
number of U.S. store openings at about 1,700 annually for the
next few years to relieve pressure on older outlets, and so the
company can funnel more resources into international markets
including China and Brazil.
Read more at Reuters.com Market News
chief financial officer on Thursday said meeting the high end
of the coffee shop chain's 2007 earnings forecast will be "very
challenging" due to rising dairy costs and slowing growth in
its U.S. business, sending shares to a 20-month low.
CFO Michael Casey also said the company would maintain the
number of U.S. store openings at about 1,700 annually for the
next few years to relieve pressure on older outlets, and so the
company can funnel more resources into international markets
including China and Brazil.
Read more at Reuters.com Market News
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