Starbucks warns of weak profit for the qtr, year
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LOS ANGELES (Reuters) - Starbucks Corp on Wednesday warned of weaker-than-expected earnings for the second quarter and full year due to weak U.S. consumer spending that led to a drop in sales at established stores.The company, which has been trying to revive business in the United States, said it expects first-quarter earnings per share of 15 cents.Wall Street analysts, on average, had been expecting earnings of 21 cents per share, according to Reuters Estimates. In the same period last year, Starbucks earned 19 cents a share.(Reporting by Nichola Groom)
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