Friday 12 July 2024
  • La Cimbali

Starbucks reports 5% drop in revenue to US$6bn for Q2, same-store sales down 10%

Must read


MILAN – Starbucks said Tuesday that its comparable sales and profits tumbled in the first quarter of the year taking a hit from COVID-19 crisis. The Seattle-based coffee chain said conditions will likely worsen in the current quarter before moderating in the company’s fiscal fourth quarter.

Starbucks reported fiscal second-quarter net income of $328.4 million, or 28 cents a share, compared with a net income of $663.2 million, or 53 cents a share, in the year-ago period.

Adjusted for international transaction and integration items, among other things, earnings were 32 cents a share, down nearly half from the prior year.

Catastrophe pay for baristas, hourly pay increases and the cost of store safety items like face coverings weighed on profits during the quarter

Dear Reader,
you are not required to purchase anything for certain limited use of Comunicaffe International.
However, if you do not purchase a subscription, your access to our contents will be limited.
For further information about our subscriptions please visit the subscription page.


If you are already subscribed please type here your credentials:

  • Franke Mytico
  • TME - Cialdy Evo

Latest article