Earnings

Starbucks second-quarter earnings to fall 46% as coronavirus hits sales

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A worker uses a thermometer to check the temperature of a customer as she enters a Starbucks shop as the country is hit by an outbreak of the new coronavirus, in Beijing, China January 30, 2020.

A worker uses a thermometer to check the temperature of a customer as she enters a Starbucks shop as the country is hit by an outbreak of the new coronavirus, in Beijing, China January 30, 2020.

Starbucks on Wednesday announced that it expects its fiscal second-quarter earnings to be cut nearly in half as the coronavirus pandemic causes sales to plunge in its two largest markets.

The company’s stock fell 2% in extended trading. Shares, which have a market value of $84 billion, have fallen 18% so…



Source cnbc.com

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