Starbucks dips 1.7% AH after slight Q3 beat, shy guidance

|About: Starbucks Corporation (SBUX)|By:, SA News Editor

Starbucks (SBUX) shares are down 1.7% AH following a slight FQ4 beat.

Global comparable store sales grew 7% on a 5% increase in traffic: Americas comps +7%, EMEA 0%, China/Asia Pacific +8%. The company opened 1.7K new stores in FY2013, ending the year with 19.8K stores. It expects to open 1.5K stores in the coming fiscal year.

Operating margin expanded 1.5% Y/Y to 16.5%

Management reaffirms FY2014 guidance: revenue growth of 10% or greater (previously 10%-13%), global comps in the "mid single digits," operating margin improvement of 1.5%-2%, and EPS of $2.55-$2.65 (vs. consensus of $2.67). FQ1 EPS is seen at $0.67-$0.69 ($0.69), FQ2 at $0.54-$0.55.

PR, conference call at 5pm ET