Starbucks' Americas cafe sales rises less than expected, shares drop

Markets Reuters

A Starbucks store is seen inside the Tom Bradley terminal at LAX airport in Los Angeles, California, United States, October 27, 2015. REUTERS/Lucy Nicholson (Copyright Reuters 2017)

Starbucks Corp (SBUX), the world's biggest coffee chain, posted a smaller-than-expected rise in quarterly sales at established cafes in the U.S.-dominated Americas region, sending its shares down more than 5 percent in afterhours trading.

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Starbucks' Americas region saw comparable store sales increase 3 percent, excluding the impacts of hurricanes, in the fourth quarter.

Analysts on average expected a 3.3 percent rise, according to Consensus Metrix.

Sales at U.S. cafes open at least 13 months rose 3 percent.

Net income attributable to the company fell to $788.5 million in the quarter from $801 million a year earlier.

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