A couple of years ago Starbucks was still growing nicely as people were willing to pay a little extra for the company's premium coffee drinks. Times have changed, and consumers have been cutting back everywhere they can, especially for luxury items, and unfortunately for Starbucks, their premium coffee falls into that category.

A good indication of how well a company is doing is its same store sales. This is based on sales in stores that have been open at least one year, and give a good look at how well a company is able to maintain, or in best case scenario, increase its foot traffic. If the recent first quarter is any indication of how Starbucks is going to do in its second quarter, then it could be in for more trouble, as it posted a 10% decline in same store sales last quarter.

One way that Starbucks has been trying to change its perception is through the introduction of an instant coffee line. Launched in March, the new coffee line called Via, is targeting a broader audience for the company, and is priced below $1 a cup.

Since Starbucks does not offer earnings guidance, it is tough to tell just what to expect tomorrow. In a note to investors, David Tarantino, an analyst for Baird, stated that he believes profits will be aided by lower utility and milk costs. He expects the company to announce that traffic has continued to slow at its stores, but believes that sales could start to pick up again later this year if gasoline prices are able to avoid another massive run up like we saw last year.

If the company is not able to meet Wall Street estimates, it will mark the fourth consecutive quarter in a row where earnings have fallen a bit short. What are your thoughts? Will Starbucks be able to beat our analyst estimates, or are we set for another disappointing earnings release?