Starbucks Q4 revenue misses estimates as international traffic declines

Global same-store sales rise 7.2%, topping analyst forecasts

Starbucks Corp. reported fiscal fourth-quarter revenue below Wall Street expectations as international store traffic softened, even as a jump in U.S. demand pushed global same-store sales past analyst forecasts.

The Seattle coffee giant said global same-store sales rose 7.2% for the July-September period, higher than the 6% increase Wall Street was expecting, according to analysts polled by FactSet.

The increase was largely due to strong demand in the U.S., where same-store sales jumped 7.7%. International same-store sales rose less than 1%, and Starbucks noted a 2.8% decline in international store traffic.

Net revenue fell 4% for the quarter to $9.14 billion, lower than the $9.2 billion analysts were forecasting.