Starbucks Says It Lost $3 Billion In Revenue In Latest Quarter Due To Coronavirus Pandemic
From: cnbc.com
Starbucks expects to swing to a loss in its fiscal third quarter, predicting it lost as much as $3.2 billion in revenue due to the coronavirus pandemic.
Shares of the company fell more than 3% in early trading Wednesday. The stock, which has a market value of $92.6 billion, has fallen 10% this year.
By the end of June, Starbucks expects weekly cash flow to be positive.