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Starbucks Earnings Weren't Bold and Flavorful by Any Means, CEO Says He Is 'Cautious' On Q4

"Tea is a large, fast-growing market," Johnson said on the call. "We have big plans for tea, but as we shared on our last call, many of our mall-based Teavana stores has been underperforming."

Johnson took over as CEO in April, from his prior position as chief operating officer. Johnson replaced Howard Schultz, now executive chairman, who served as the CEO from 1987 to 2000 and then again from 2008 until his April departure.

Starbucks CEO Kevin Johnson.

When he took...