Starbucks expects decline in sales
Times Wire Services
Starbucks Corp. said it expected sales at stores open at least 13 months to fall in the fiscal year that ends in September. Its shares fell 6.5% in late trading.
The forecast comes after the Seattle company laid out several scenarios for the year Nov. 10, all of which had same-store sales dropping.
Adjusted earnings per share in fiscal 2009 may be as low as 71 cents or as high as 90 cents, depending on how steeply sales deteriorate, the company said then.
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