Starbucks Suffers Record 11-Day Rout as Sales Concerns Build
- Coffee chain’s slide erases nearly $12 billion in market value
- Christmas promo may fall short of Pumpkin Spice, says JPMorgan
In total, the slump has erased 10% of Starbucks’ market value, a decline of nearly $12 billion.
Photographer: Damian Lemański/BloombergStarbucks Corp. shares suffered a record run of losses as concern builds that sales trends at the coffee giant have cooled in recent weeks.
The stock dropped 1.6% on Monday, declining for a 11th consecutive session in what is the longest rout since Starbucks’ public debut in 1992. In total, the slump has erased 9.4% of Starbucks’ market value, a decline of nearly $12 billion.