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Stock impact report

Starbucks Feels The Pain; Expects 46% Fall In Earnings, Pulls Full Year Guidance [Yahoo! Finance News]

Starbucks Corporation (SBUX) 
Last starbucks corporation earnings: 4/28 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.starbucks.com/ir-home/default.aspx
Starbucks SBUXHowever, the coffee chain warned that worse is still to come. “Based on the late-quarter onset of COVID-19 impacts to our business results in the U.S. and other markets globally—and as the flow-through impact of lost sales in the U.S. is materially greater than the flow-through impact of lost sales in China—we expect the negative financial impacts to Q3 to be significantly greater than they were in Q2 and to extend into Q4.”As a result, Starbucks withdrew its full year guidance- but reassured investors that it continues to believe these impacts are temporary and that its business will fully recover over time. And while the company has suspended its share repurchase program, it does not expect to reduce the quarterly dividend.Meanwhile comparable store sales in the U.S. were down approximately 3% in Q2 versus the prior year, reflecting the very rapid onset of COVID-19 business impacts in the final three weeks of the quarter.Indeed, until the second half of March SBUX was Show less Read more
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