"Performance" Starbucks' revenue in the last fiscal quarter fell short of expectations, with same-store sales declining for five consecutive quarters

Starbucks (SBUX.US) announced that for the second fiscal quarter ending in March, the adjusted earnings per share were $0.41, lower than the market expectation of $0.49; net sales increased by 2% to $8.76 billion, also below expectations. Same-store sales fell by 1%, marking the fifth consecutive quarter of decline, but the company indicated that its strategy to turn losses into profits is beginning to show results.

During the quarter, transaction volume in U.S. stores decreased by 4%, dragging down same-store sales by 2%; same-store sales in China remained flat, as the decline in average ticket prices offset the increase in transaction volume