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Starbucks earnings and sales miss, sending stock down slightly

Starbucks edged lower in after-hours trading after it missed Wall Street earnings and sales estimates.

Starbucks reported adjusted earnings per share of $0.41, compared to the $0.49 analysts polled by FactSet were expecting. It also reported revenue of $8.76 billion, under the $8.83 billion analysts had forecast.

Same-store sales declined 1%, compared to the 0.8% decline analysts were expecting. The company has now reported five straight quarters of declines in that key metric.

Starbucks CEO Brian Niccol joined the company in September after leaving a successful run at Chipotle. He’s been pushing a “Back to Starbucks” campaign that involves making stores more welcoming by having baristas write on cups and bringing back ceramic mugs.

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