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Starbucks Gives Downbeat Holiday Forecast

Shares of the coffee giant, up 63% over the past year, fell 2.7% to $60.80 in recent after-hours trading.

For the holiday quarter, Starbucks projected per-share earnings of 44 cents to 45 cents, while analysts polled by Thomson Reuters expected 47 cents.

For the period ended Sept. 27, Starbucks reported that global same-store sales rose 8%, above the 6.9% increase expected by Consensus Metrix. Same-store customer traffic grew 4%.

However, in the company’s China and Asia Pacific business, same-store sales rose 6%, missing analysts’ estimates for growth of 9.6%. Starbucks has been among...