LOS ANGELES: Starbucks Corp’s early relaunch of its popular Pumpkin Spice latte drink failed to heat up business at its US cafes, disappointing Wall Street and sending the company’s shares down almost 5%.
The world’s biggest coffee chain said a 1% increase in traffic contributed to a 5% gain in sales for Americas-region cafes open at least 13 months. But that result fell short of the 6.2% samestore sales gain expected by analysts polled by Consensus Metrix.
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