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Starbucks sales miss Street expectations
Although Starbucks’ profit in the first quarter rose a better-than-expected 25% to $540.7 million from $432 million in the year-ago period, same-store sales missed Wall Street expectations.
Same-store sales rose 5%, beneath Wall Street expectations of 5.9%. Revenue for the quarter ended Dec. 29, 2013 rose 12% to $4.24 billion from $3.79 billion.
Same-store sales in the Americas region also rose 5%, while analysts had expected a 6.4% increase.
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Welcome to the New Customer Disruption Newsletter
As senior editor of Chain Store Age it is my pleasure to welcome you to the first edition of our new Customer Disruption e-newsletter. Every other Thursday, I will be presenting you with content from the Chain Store Age website and magazine highlighting how retailers are using technology to provide customers with the type of seamless, personalized shopping experience they have come to expect.
