SBUX pre-announces today that it will most likely to miss its 2Q earnings because of the weak consumer spending. It also lowered the guidance for its full year earnings as well. The Wall Street doesn’t like the news and drive the stock prices down for another $1.91 to $15.94 in the after hour trading.
The other players in this coffee chain biz aren’t doing much better either since the beginning of 08, however, I know my local favorite is doing great. If you make good coffee, they will come!
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