Coffeehouse giant Starbucks Corp on Wednesday reported a 28 percent drop in quarterly profit, and forecast its first annual earnings drop since 2000.
The Seattle-based company reported fiscal second-quarter net income of $108.7 million, or 15 cents per share, compared with a year-earlier net profit of $150.8 million, or 19 cents per share.
The reports comes a week after it warned on weak results from its key California and Florida market after consumers capped spending as economy growth becomes slower.
Starbucks, which is struggling to turn around a slowing U.S. business, plans to unveil two new in a bid to rejuvenate its coffee store business.
It will introduce two new drinks, including a smoothie-like beverage made of fresh fruit and whey powder, while the other will be a sweet, icy drink and is developed alongside an Italian company.
The move comes as the company says it is in the initial stage of a broader expansion into healthier drink and food products.
The fruit drink will be available in all U.S. shops, while the icy beverage will be sold only in select areas like Southern California. The price and names of the drinks were not revealed.
Shares of the company ended 3 cents or 0.19 percent higher to $16.23.