By The Associated Press
Starbucks is lowering its 2020 adjusted earnings growth forecast, sending the coffee chain’s shares falling before the opening bell.
Starbucks Corp. said Wednesday during a presentation that it now foresees profit falling below the ongoing growth model of 10% or more. Its prior outlook was for at least 13% growth.
Shares dropped 3.5% to $93.40 in Wednesday premarket trading.