Starbucks earnings fall 77% in Q2

SEATTLE Despite gaining some traction from cost-saving and traffic-boosting efforts and seeing a slight improvement in same-store sales, Starbucks Corp. Wednesday reported a 77-percent decline in second-quarter earnings.

For the quarter ended March 29, the Seattle-based coffeehouse giant recorded a profit of $25 million, or 3 cents per diluted share, compared with $108.7 million, or 15 cents per diluted share, for the same period a year ago.

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