Starbucks shares sink 10% as same-store sales fall “In a highly challenged environment..."

Starbucks on Tuesday reported weaker-than-expected quarterly earnings and revenue. “In a highly challenged environment, this quarter’s results do not reflect the power of our brand, our capabilities or the opportunities ahead,” CEO Laxman Narasimhan said. “It did not meet our expectations, but we understand the specific challenges and opportunities immediately in front of us.”