Starbucks warns investors of a scalding quarter

SEATTLE Describing the current economic environment as the weakest in the company’s history, Starbucks Corp. on Wednesday projected a year-to-year decline in second-quarter earnings and cut its annual expectations.

For the quarter ended March 30, the coffeehouse giant now expects to earn 15 cents per share, down from year-ago earnings of 19 cents per share. The latest-quarter result would include charges of 3 cents per share stemming from Starbucks’ store

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