Starbucks (SBUX) shares fell in after-hours trading on Tuesday after the company suspended its outlook for 2025 and released preliminary fourth-quarter results that missed expectations.

Starbucks reported fourth-quarter revenue of $9.1 billion, down 3% compared to last year and below the analyst consensus from Visible Alpha. Earnings per share (EPS) dropped to 80 cents from $1.06 a year earlier, falling short of the expected $1.03.

Comparable sales declined by 7% globally and by 10% in North America. In the U.S., sales fell by 6%, driven by a 10% drop in transaction volume.

“Despite our increased investments, we were unable to change the trajectory of our traffic decline, which led to pressure on both our revenue and profit,” said Chief Financial Officer Rachel Ruggeri. She added that it will take time for the company to develop a turnaround plan.

Following the release, Starbucks shares fell nearly 4% in after-hours trading.