Starbucks Falls After Warning That Sales Slump Is Getting Worse

Starbucks Corp. shares declined after sales plunged for the third consecutive quarter and the company pulled its guidance for 2025, calling attention to the scope of the problems facing new Chief Executive Officer Brian Niccol.

The coffee chain reported a 7% decline in same-store sales in the fourth quarter ended Sept. 29, according to a preliminary earnings release on Tuesday. The weakness was especially evident in the US, where transactions were down 10% from the prior year, and in China, where comparable sales fell 14%.

Starbucks said withdrawing guidance for the current fiscal year will give Niccol an ...