Starbucks posts first sales dip since 2020

The company cut its full-year revenue growth forecast to low single-digits and signaled adjusted earnings per share may be flat. — Bloomberg

WASHINGTON: Starbucks Corp sales fell for the first time since 2020 as half-off deals and new lavender lattes weren’t enough to entice increasingly budget-conscious consumers.

The shares fell as much as 13% in postmarket trading. If that holds, it would be the company’s biggest stock drop since March 2020 in the early days of the pandemic.