The world’s biggest coffee chain, Starbucks, has said that profits next year will fall below analyst expectations, sparking a fall of 2.4% in share prices.

The news comes despite the fact that profits rose 34% in the fourth quarter as customer spend increased.

We are more optimistic about our future than ever before and at the same time we are realistic and practical in our expectations and I would encourage you to be as well," Chief Financial Officer Troy Alstead told analysts on a conference call.