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Earnings Outlook: Starbucks earnings: Growth goals come back down to Earth

Starbucks Corp. is scheduled to report third-quarter earnings on Wednesday after the closing bell with RBC Capital Markets analysts expecting a discussion of growth goals that are more realistic than those of the past.

Speaking at the Oppenheimer 18th Annual Consumer Conference in late June, Chief Executive Kevin Johnson said a late start to the “Afternoon Made” marketing campaign after a racial bias incident in Philadelphia hurt third-quarter same-store sales.

Heading into May, U.S. same-store sales were 3%, and the company expects same-store sales growth for the quarter to be 1%, matching the FactSet consensus.

The news also sent shares tumbling, down more than 9% the following day.

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