International Investing

“…and with the right kind of eyes you can almost see the high-water mark - the place where the wave finally broke and rolled back.” - Fear and Loathing in Las Vegas

Starbucks took a 6% hit today bringing its total decline this year to 35%. The sharp decline was due to a declining same stores sales figure which wasn’t offset by Octobers price increase.

The 1 percent drop in traffic at stores open at least 13 months marked the first time the company has seen such a decline.

The company released its earnings report after the market closed Thursday. Starbucks shares fell more than 9 percent at the open of trading Friday, or $2.25, to $21.90.