Starbucks rally continues as results not as bad as feared

Starbucks Corp (NASDAQ:SBUX) shares rose over 4% in early trading on Wednesday despite the global coffee shop chain lowering its outlook after the past quarter disappointed on sales and profits. Revenue for the past quarter, the first in its 2024 fiscal year, grew 8% year over year to $9.4 billion, which was short of the average Wall Street forecast of $9.6 billion. US like-for-like store sales grew 5%, with foot traffic up 1% and average customer payments rising 4%. International comparable sales increased ...