FSMNews

Starbucks’ sales at cafes in its U.S.-dominated region were stagnant as it grew slightly more than expected in the latest quarter.

On Thursday, the coffee giant reported stagnant store traffic at established U.S. cafés for the 2nd quarter in a row amid intense competition from upscale independent cafés, convenience stores, and fast-food chains.

Shares in the world’s biggest coffee chain fell 1.9 percent in extended-hours after stepped-up promotions failed to lure more U.S. customers, who drive the lion’s share of Starbucks profits.