Why Starbucks Stock Sank Today
Shares of Starbucks (NASDAQ: SBUX) fell on Friday after the global coffeehouse chain warned of cost pressures and a slowdown in its most important growth market.
As of 3:15 p.m. EDT, Starbucks' stock was down more than 7%.
Starbucks' U.S. comparable-store sales jumped 22% in its fiscal 2021 fourth quarter, as people returned to its cafes once social distancing requirements eased. The company's comps in China, however, fell 7%, due in part to a reemergence of COVID-19 in the country.
Source Fool.com
