Starbucks founder, Chairman and CEO Howard Schultz shared with CNBC his outlook for the company, after the coffee giant reported the lowest same-store sales growth rate since 2009.
"If you go back to the long-term, the five-year plan that we have committed to — mid-single-digit comps, 10 percent revenue growth and 15 to 20 percent EPS growth over the next five years — I wouldn't get too concerned about this quarter," Schultz said.
"We said all along, there would be ups and downs, but here we are, a company that's been public for 25 years and we've proven over and over again the sustainability, the relevancy and the growth and development of Starbucks," he said.
Apart from his earnings outlook, Schultz also spoke about shifts in consumer purchasing behavior, and President Donald Trump's rhetoric on protectionism and its effect on multinational companies like Starbucks.
Schultz is stepping down as CEO in April of this year.
PRO members have access to this full interview, which originally appeared on "Squawk on the Street."
