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From Starbucks' (SBUX) FQ3 conference call: After earlier sending execs to the "problem spot" of...

From Starbucks' (SBUX) FQ3 conference call: After earlier sending execs to the "problem spot" of Western Europe, it will close unprofitable stores on the continent over the rest of the year. Despite an EPS miss, CEO Howard Schultz would take Q3's comp-store growth (7% U.S.; 6% global) "any quarter over the 41-year history of the company." Lower Q4 numbers are a "very conservative approach" but execs believe strongly in 15-20% growth guidance for 2013, with expectations to benefit from lower commodity costs. Shares now -10.3% AH. (earnings; call transcript)
Comments (1)
  • decent_banker
    , contributor
    Comments (13) | Send Message
     
    I am not sure how the execs can believe strongly in 15-20% growth for 2013 when their Q4 numbers will be much lower. The situation in Europe will not go away in 2013, China situation is also not going to improve dramatically while US will be probably lingering until Congress gets their act together.
    26 Jul 2012, 07:09 PM Reply Like
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