Starbucks' 4th-Q profit plummets 97%

SEATTLE Taking a $105.1 million hit as a result of this year’s turnaround efforts, Starbucks Corp. on Monday reported a 97-percent decline in fourth quarter profit but said the coffeehouse chain was well-positioned to face ongoing challenges in the next fiscal year.

Saying that Starbucks is “more resilient than many other premium brands,” company officials also reiterated earlier hints that Starbucks may have hit bottom in the fourth quarter, saying first-quarte

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