Starbucks shares dropped as much as 4 percent in late trading after it reported sales growth that missed analysts' expectations on Thursday.
The coffee chain said it saw global same-store sales increase by 4 percent during the quarter, below Wall Street expectations of 5.7 percent, according to FactSet. The company saw lackluster sales growth across all regions.
Starbucks saw comparable store sales increase by 4 percent in the Americas region, 3 percent in the China/Asia Pacific region and decrease by 1 percent in the Europe/Middle East/Africa region. Analysts had expected sales growth of 6.2 percent in the Americas, 4.6 percent in China/Asia Pacific, and 2.8 percent in Europe/Middle East/Africa.
CEO Howard Schultz said that the company has a "clear line of sight to returning our U.S. business to historic levels of comp sales growth which had been at or above 5% for the 25 consecutive quarters prior to Q3."