Starbucks Is Cooling Off in Bad Sign for Corporate Profits

Starbucks Corp. served up a weak outlook to shareholders for next fiscal year’s earnings, adding to an increasingly hazy view around corporate-profit growth beyond 2019.

The coffee chain’s chief financial officer, Patrick Grismer, warned that profit growth will slow in fiscal 2020 due to the loss of tax-related gains that won’t be repeated. Without those tax benefits, Starbucks’s earnings growth will fall below its previous projections of at least 10%, he said while speaking at the Goldman Sachs global retail conference.

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