June 10, 2020 / 2:51 PM / 25 days ago

BRIEF-Starbucks Says Average Weekly Cash Flow Is Expected To Be Positive By End Of Q3

June 10 (Reuters) - Starbucks Corp:

* STARBUCKS - AVERAGE WEEKLY CASH FLOW IS EXPECTED TO BE POSITIVE BY THE END OF Q3

* STARBUCKS - EXPECT INTERNATIONAL’S COMPARABLE STORE SALES IN FISCAL 2020 TO DECLINE 40% TO 45% IN Q3

* STARBUCKS - EXPECT INTERNATIONAL’S COMPARABLE STORE SALES IN FISCAL 2020 TO IMPROVE TO A DECLINE OF 10% TO 20% IN Q4

* STARBUCKS - EXPECT COMPARABLE STORE SALES FOR AMERICAS & U.S. IN FISCAL 2020 TO DECLINE 40% TO 45% IN Q3

* STARBUCKS - EXPECT COMPARABLE STORE SALES FOR AMERICAS & U.S. IN FISCAL 2020 TO IMPROVE TO A DECLINE OF 10% TO 20% IN Q4

* STARBUCKS -U.S. IN-STORE TRANSACTIONS INCREASED SLIGHTLY FOLLOWING GRADUAL RE-OPENING OF CAFÉS IN MAY

* STARBUCKS - EXPECT INTERNATIONAL’S COMPARABLE STORE SALES TO YIELD A DECLINE FOR FULL FISCAL YEAR OF 20% TO 30%.

* STARBUCKS - EXPECT COMPARABLE STORE SALES FOR AMERICAS & U.S. IN FISCAL 2020 TO YIELD A DECLINE OF 10% TO 20% FOR FULL FISCAL YEAR

* STARBUCKS - EXPECT PORTFOLIO OPTIMIZATION WILL YIELD NET NEW STORE GROWTH FOR THE AMERICAS IN FISCAL 2021

* STARBUCKS - ABOUT 96% OF GLOBAL COMPANY-OPERATED STORE PORTFOLIO IS OPEN

* STARBUCKS - PORTFOLIO OPTIMIZATION IN AMERICAS TO HAVE A MODERATELY NEGATIVE IMPACT ON AMERICAS REVENUE THROUGH NEXT FISCAL YEAR

* STARBUCKS - NOW EXPECT TO OPEN ABOUT 300 NET NEW STORES IN FISCAL 2020 FOR AMERICAS SEGMENT, DOWN FROM ORIGINAL EXPECTATION OF 600

* STARBUCKS - EXPECT CHINA’S COMPARABLE SALES TO IMPROVE TO DECLINE OF 20% TO 25% IN Q3, AND TREND TOWARDS ROUGHLY FLAT BY END OF Q4

* STARBUCKS - BEYOND FISCAL 2021, EXPECT TARGETED 3%-4% AMERICAS NET NEW UNIT GROWTH MODEL TO REMAIN INTACT, WITH IMPROVED PROFITABILITY Source text: [bit.ly/2AkEn9K] Further company coverage:

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