Starbucks feels economic pressures

Starbucks feels economic pressures
Tags: Coffee / Specialty Beverages
April 24, 2008

Conde Nast Portfolio: Blaming the hard-hit housing markets in California and Florida, Starbucks Corp said Wednesday slashed its quarterly and 2008 profit forecast below Wall Street targets.

The company's shares tumbled 12 percent on the news, which came four months after founder Howard Schultz returned as chief executive.

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