Starbucks (NASDAQ:SBUX) trades lower in the premarket session after setting profit guidance below expectations ahead of a presentation today at the Goldman Sachs 26 th Annual Global Retailing Conference in New York.
SBUX sees FY
EPS falling below the ongoing growth model of 10%. FY 19 EPS is reiterated at $ 2. 80 to $ 2. 82 vs. $ 2. 82 consensus . More color could be forthcoming from the coffee chain when execs formally get to the microphone.
Looking down the road, the company plans to issue FY (guidance on its Q2 earnings conference call scheduled for October 30.
Shares of Starbucks aredown 3. (%) premarket to $ 93. 80. SBUX is still up over 50% YTD.
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