Starbuck's Maw Offers Guidance, Stock Holds Gains
Shares of Starbucks (NASDAQ: SBUX) recently spiked down about 0.7 percent as investors were apparently looking for more out of CFO Scott Maw at the BofA Merrill Consumer Retail Conference. Despite the dip, shares of Starbucks still closed up 2 percent versus the S&P 500 which finished 0.6 percent lower on Tuesday.
Maw said the company is expecting full year 2014 adjusted earnings per share growth in the 18-22 percent range. The analyst consensus estimate on Starbucks currently sits at growth of about 21 percent.
The CFO said Starbucks is expecting 15-20 percent long-term annual earnings per share growth. Maw reiterated the previously-issued sales growth outlook.
Maw added the company expects to expand operating margin in full year 2014.
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