Reuters: Global Markets: Starbucks sales momentum slowed in June: Cleveland Research

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Starbucks sales momentum slowed in June: Cleveland Research Jul 18th 2012, 17:18 Wed Jul 18, 2012 1:18pm EDT (Reuters) - Shares of Starbucks Corp (SBUX.O) fell as much as 2.7 percent Wednesday morning after Cleveland Research Co said sales momentum for the coffee maker slowed in June. According to the report obtained by Reuters, analysts at Cleveland Research said they were trimming the company's comparable sales estimates for the Americas region 7 percent to 8 percent for the third quarter. It had expected comparable sale to grow 8 percent to 9 percent earlier. Cleveland did not return calls seeking comment. Starbucks is expected to report third quarter results on July 26. The analysts also said though Starbucks K-Cups continued to gain share within the grocery segment in the past 3 to 4 months, sell-through of all coffee refills called K-Cups moderated in grocery and mass markets in the third quarter. Starbucks stores decided to sell single-serve K-Cup coffee pods for Green Mountain Coffee Roasters Inc's (GMCR.O) popular Keurig brewers earlier this year. Starbucks shares were down 24 cents at $53.49 on Nasdaq. (Nivedita Bhattacharjee in Chicago; editing by M.D. Golan)

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