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Starbucks Corporation Message Board

  • news_to_use news_to_use May 8, 2013 4:42 PM Flag

    SBUX actually Missed Earnings & Recast accounting-see 10Q

    If you take away Teavana's earnings, which Starbucks closed the acquistion on Dec 31, 2012, Starbucks missed their earnings. In addition, SBUX noted in their 10Q, in notes to financial statements, that they recast their accounting, and that the last 2 quarters are not typical and you should not do projections based on these results. In other words, they are playing accounting games and you cannot rely on what is coming. Did you notice how guarded Shultz was on CNBC. He is very careful because he is fudging the data. Also, Green Mountain deal is an admission that Starbuck's brewing system, that came out with all the hoopla last year, has failed. You should be selling here.

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78.90+0.25(+0.32%)Jul 30 3:59 PMEDT

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