Starbucks reports lower than expected revenue on softer international demand

Starbucks reported lower than expected revenue in its fiscal fourth quarter as international traffic softened.

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

That 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.

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