Starbucks Reports Losses of up to $3.2 Billion USD Due to Coronavirus

Companies across industries have taken a hit as a result of lockdowns amid the coronavirus pandemic. Starbucks announced it has lost as much as $3.2 billion USD in revenue during its fiscal third quarter. Withdrawing its prior outlook back in April, the company predicts a net loss per share of 64 cents to 79 cents and adjusted losses per share of 55 cents to 70 cents for the quarter ending June 28.With the virus putting a stop to dining out in most of the U.S. for weeks on end, Starbucks convert...