Starbucks Burned Again

Both figures met Wall Street's forecast, according Thomson.

The top-line increase was significantly boosted by Starbucks' expansion, with the company having added 1,342 new stores in the last 12 months.

Starbucks' same-store sales rose 4% for the quarter. In the U.S., same-store sales rose 5%, helped by a 4% jump in the average value per transaction. Customer traffic, however, declined 1% for the first time since the company began reporting that figure three years ago.

Starbucks Chief Financial Officer Peter Bocian told analysts that negative economic trends were mainly to blame for the sales softness, but the company intends to focus on improving the "customer experience" in its stores.

He said factors like "the increase in gas prices and the break-down in the mortgage market" are weighing on customers.

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