Starbucks Corp., the world’s largest coffee shop chain, fell the most in more than three years after it forecast fourth-quarter profit that trailed estimates as consumers pull back around the globe. Chief executive Howard Schultz is trying to attract customers fretting by selling juice, energy drinks, and better food alongside its traditional coffee.
Market Movers
Starbucks falls after cutting profit forecast
Brendan McDermid/Reuters
Starbucks lowered its forecast for fourth-quarter profit to as much as 45 cents a share from a previous projection for as much as 47 cents. Analysts estimated 48 cents, on average.