Starbucks falls after posting bigger-than-expected quarterly global sales drop
Shares of Starbucks SBUX.O fall 6.3% to $79.41 in after-market trading
Posts bigger-than-expected drop in Q2 global comparable sales as demand remained sluggish in the United States amid rising macroeconomic uncertainty
Total same-store sales declined 1% in the second quarter vs analysts' average estimate of a 0.26% fall, according to data compiled by LSEG
*Co also reports quarterly adjusted EPS of 41 cents, missing estimates of 49 cents
However, international comparable sales rose 2%, compared with estimates of a 1.13% drop
*Co says it is taking actions to minimize tariffs, including further diversifying, redirecting coffee shipments
Also says it is working on strengthening its supply chain, localizing and moving production as needed
Stock has fallen ~7% YTD
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