Starbucks warns of profit-growth miss as stock’s rapid rise prompts ‘pull forward’ of buybacks
September 04, 2019 at 13:50 PM EDT
Shares of Starbucks Corp. slumped Wednesday after the coffee seller warned that 2020 profit growth will be below its target, citing a “pull forward” of about $2 billion worth of stock repurchases, which would have boosted per-share results.