Sales froth goes flat at US Starbucks

Starbucks isn’t immune to the slump plaguing the restaurant industry in the US. The coffee giant cited a “challenging environment” as it posted disappointing quarterly growth and cut its annual sales forecast this week.

Starbucks now expects revenue to rise between 8% and 10% this fiscal year after predicting a double-digit increase.

The results signal that Starbucks’ momentum is slowing, just as Howard Schultz prepares to leave his post as chief executive officer in April.