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Starbucks' Sales Chilled

Stock quotes in this article: SBUX  

Updated from 5:12 p.m. EST

SAN FRANCISCO -- Starbucks(SBUX Quote) posted a slight increase in earnings in the first quarter, narrowly topping estimates, but a drop in U.S. same-store sales dragged on the company's overall performance.

The coffee giant also pared its profit forecast for the year and set into motion plans for slower store growth amid slumping sales.

For the 13-week period ending Dec. 30, the Seattle-based company earned $208.1 million, or 28 cents a share, compared with $205 million, or 26 cents a share a year earlier. ...

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