Futu News learned that Starbucks fell sharply during the intraday period, and at one point the decline was over 6%.

Market source: Futu Securities

According to Bloomberg, Starbucks previously told investors that global same-store sales are expected to increase by 1% in the current quarter (second quarter of fiscal year 2018). This is the worst quarter in Starbucks operations in nearly nine years. Meanwhile, Starbucks said that adjusted earnings per share this year were around $2.39-$2.43, which is also lower than the previous forecast of $2.48-2.53.

In addition, Starbucks also announced plans to close stores for the US market. Next year, in large cities with a high density of stores, Starbucks plans to close 150 stores directly operated by the company.

Daimo lowered its target price for Starbucks from $72 to $59, and BTIG Research downgraded Starbucks's rating from buying to neutral.

(Edited by Jiang Wenwen)