Starbucks posts loss on slow sales, closure costs

SEATTLE Slower customer traffic and costs associated with Starbucks’ “transformation agenda” swung the coffeehouse giant to its first loss as a public company and to again back off on planned openings this year for both U.S. and international stores.

For the third quarter ended June 29, Starbucks reported a net loss of $6.7 million, or 1 cent per share, compared with a profit of $158.3 million, or 21 cents per share, in the same quarter a year ago.

Sa

Register to view the full article

Register to view this article

Already a member? .

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish