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Starbucks lowers '08 projections
November 15, 2007
The Seattle Times: While Starbucks' fourth-quarter profit rose to $159 million, up 35 percent from the same quarter last year on sales of $2.4 billion,the company socked investors with some sobering projections for fiscal 2008: It lowered the estimated number of new stores for the year from 2,600 to 2,500; lowered its anticipated growth range for earnings per share; and said sales could grow 17 to 18 percent, down from just 18 percent.
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