The coronavirus pandemic led Starbucks to lose as much as $3.2 billion in sales during the quarter, according to its internal estimates.
Starbucks said in June that it expected adjusted losses per share of 55 cents to 70 cents.New store openings have resumed in China and the Americas.
People wear protective face masks outside Starbucks in midtown as the city moves into Phase 2 of re-opening following restrictions imposed to curb the coronavirus pandemic on June 23, 2020 in New York City.is expected to report its fiscal third-quarter earnings after the bell Tuesday.
Starbucks said at the time that its fiscal fourth-quarter earnings will improve, predicting net income per share of 11 cents to 36 cents and adjusted earnings per share of 15 cents to 40 cents. ButFor the full fiscal year, the company expects same-store sales in its two largest markets — the United States and China — to decline 10% to 20%. It forecast flat same-store sales growth in China by the end of the fiscal fourth quarter and predicts U.S. same-store sales will remain negative.
New store openings have resumed in China and the Americas. Starbucks expects to open about 300 net new locations in fiscal 2020 in the segment, down from its prior estimate of 600.VIDEO
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Starbucks Reports Earnings Tomorrow. Here’s What to Expect.The report comes after the close of trading. Investors will be looking for hopeful signs from the coffee giant, which has been hit hard by the coronavirus...
Weiterlesen »
Here's what to expect from McDonald's earningsShares of McDonald's, which has a market value of $155 billion, have risen 1.8% so far this year.
Weiterlesen »
Hasbro revenue falls 29% as store closures, product shortages hurt sales; shares fallStore closures, product shortages and lower retail inventory hampered Hasbro in the second quarter, as the company posted weaker-than-expected earnings on Monday.
Weiterlesen »
U.S. stock futures flat ahead of major earnings3M, McDonald's Pfizer, JetBlue and Raytheon Technologies all report earnings before the opening bell on Tuesday.
Weiterlesen »
Slideshow: Hip Replacement: What to KnowMore than 2.5 million people have had a total hip replacement in the U.S. Here's what to expect from the day of surgery through the recovery process:
Weiterlesen »
What you need to know about the coronavirus right nowHere's what you need to know about the coronavirus right now:
Weiterlesen »