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Starbucks: Q3 results hit by COVID-19

(CercleFinance.com) - Coffee chain Starbucks has reported a non-GAAP loss per share of -0.
46 follar for the third quarter of its fiscal year, compared to EPS (positive) of 78 cents a year ago.

Its results should of course be put into perspective, as the majority of its outlets were closed during the coronavirus crisis. As a result, same-store sales fell by -40% in one year.

Regarding its expectations, Starbucks anticipates FY EPS of between 0.83-0.98 dollar. Meanwhile, revenues could decline by 12% to 17% - both in Q4 and over the full year.


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