News of Bahrain
Business29 July 20201 min read

Starbucks reports quarterly loss, as pandemic hurts profits

Washington Coffee chain Starbucks swung to a loss, according to its quarterly report on Tuesday, after seeing comparable store sales decline by 40 percent globally. The company reported a loss of 0.46 cents per share, compared with a $0.78 profit in the prior year. The loss came

Editorial Team Legacy

Published 29 July 2020, 8:00 · Updated 22:03

Link copied
Starbucks reports quarterly loss, as pandemic hurts profits

Washington

Coffee chain Starbucks swung to a loss, according to its quarterly report on Tuesday, after seeing comparable store sales decline by 40 percent globally. The company reported a loss of 0.46 cents per share, compared with a $0.78 profit in the prior year. The loss came in slightly better than expectations. In the previous quarter, the company had a profit of $0.32 per share.

Join the conversation

Sign in to leave a comment. Every comment is reviewed before it goes live.

No comments yet. Start the conversation.