Starbucks Provides Weak Sales Outlook

- Jun 20, 2018-

“While certain demand headwinds are transitory, and some of our cost increases are appropriate investments for the future, our recent performance does not reflect the potential of our exceptional brand and is not acceptable,” Starbucks CEO and President Kevin Johnson said in a statement. “We must move faster to address the more rapidly changing preferences and needs of our customers.”

Starbucks said it will return an additional $25 billion more to shareholders than initially planned in the form of share buybacks and dividends. The company will hike its dividend 20% to 36 cents per share.