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Keyword: overpricedcoffee
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Starbucks results disappoint, new CEO must brew up growth
Kevin Johnson, who succeeded Howard Schultz as CEO this month, on Thursday presided over an earnings call where the company cut its full-year profit target on the heels of disappointing second-quarter sales and stalling growth from its main business in the United States. Shares in the company fell 4.9 percent to $58.30 after Starbucks also announced that it was reviewing its Teavana business after that chain's mall stores dragged down overall sales.
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