SEATTLE (AP) — Starbucks said Tuesday that its global sales plunged in the first three months of the year as coronavirus-related shutdowns crippled its global operations.
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The Seattle-based coffee giant said 98% of its stores in China have reopened, but many are operating with reduced hours and seating. In the U.S., the company has temporarily closed half of its 8,000 company-owned stores, while 75% of stores in the United Kingdom, Japan and Canada are shuttered.
The company said sales at its established stores fell 10% in the January-March period. It expects conditions to worsen in its fiscal third quarter before moderating later this year. It said it is withdrawing most 2020 financial guidance as a result.
Starbucks’ revenue fell 5% to $6 billion in its fiscal second quarter. That beat analysts’ estimate of $5.9 billion, according to FactSet.
The company earned $328.4 million for the quarter, down 50.5% from the prior year. Adjusted earnings of 32 cents per share were shy of analysts’ estimate of 34 cents. Starbucks’ same-store sales decline — which compares sales at stores open at least a year — was also higher than analysts anticipated.
Starbucks shares fell 1% in after-hours trading.
Sorry but I don’t feel bad for those liberals, after what they did to those white employees out there in Philly for following store policies and asking a colored loiterer to leave the store
chatzkel havwe your swastika armband ready
chaskel you are a peh zadik
Collapse Starbucks along with your $1,000 cofee.
Collapse you leftie progressives who caved to white haters.
What this lock down has taught us, is whats essential in life. Is Starbucks really important? Are staduims and baseball games really important? Do we really need gyms or can we just go for a jog outside? Do we need to travel to the reba rev mailach, R shalya , and meron? Do we need fancy hotels for pesach? Are fancy chasnaas important? (not advocating for backyard chasnas. That’s not practical but do we need 200k chasnas?)
Sorry, but even 15-20k chasunas are expensive.