NEW YORK — Starbucks trimmed its sales forecast Thursday after revenue came in lighter than expected in the recent quarter.
The Seattle-based company said global sales rose 4 percent at established locations, including in its flagship U.S. market, for its fiscal third quarter. It now expects the figure to increase in the mid-single digit percentages for the year. It previously forecast growth to be “somewhat above” that range.
It comes after the coffee chain revamped its rewards program in April, which some had speculated might drive away some customers.
Chief Operating Officer Kevin Johnson said the rewards program was successful, with growth in members. That’s even though customer traffic was flat in the period from a year ago in the U.S.
