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Starbucks took a $3 billion hit during the coronavirus pandemic - Business Insider

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Starbucks took a $3 billion hit during the coronavirus pandemic

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FILE - In this May 21, 2020 file photo, patrons to a Starbucks in the Chicago neighborhood of Hyde Park walk past stacked chairs and tables. Starbucks says that the COVID-19 pandemic caused an approximately $3 billion to $3.2 billion decline in its third-quarter consolidated revenue. The coffee chain said Wednesday, June 10, that the virus outbreak also lowered operating income by about $2 billion to $2.2. billion.

Starbucks was forced to close its stores to customers, but continued to operate pick-up and other services in most locations. The Seattle company said 95% of U.S. company-run stores are in operation at varying levels of service, just slightly lower than operations globally. Starbucks provided a preliminary estimate for a third-quarter adjusted loss of about 55 cents to 70 cents per share. Analysts polled by FactSet predict a loss of 16 cents per share.Do you have a personal experience with the coronavirus you'd like to share? Or a tip on how your town or community is handling the pandemic? Please emailfrom Business Insider Intelligence on how COVID-19 is affecting industries.

 

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Love Starbucks!!

but what does that mean.. to me?

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