Starbucks' European business struggling more than expected this quarter as broader economic challenges in continent hurting company, CFO says

LOS ANGELES , June 13, 2012 (Industry Intelligence) – Starbucks CFO Troy Alstead said that the company’s European business is struggling more than expected this quarter as broader economic challenges in the continent are hurting the company, The Wall Street Journal reported June 12.



Starbucks has conceded that its store operations haven’t been strong in Europe. Alstead reiterated that its cafes in the U.S. are its biggest contributor to profit but warned that Europe's weakness will have an effect on the company’s fiscal third-quarter results.



Last April, Starbucks reported that its fiscal second-quarter earnings rose 19%, with strong sales in China and the Americas.



The primary source of this article is The Wall Street Journal, New York, New York, on June 12, 2012.



