June 10, 2020 / 12:31 PM / 2 months ago

Starbucks forecasts up to $2.2 bln drop in Q3 operating income on COVID-19

June 10 (Reuters) - Starbucks Corp on Wednesday forecast its third-quarter operating income to plunge by about $2.2 billion, hit by coronavirus-induced store closures.

The world’s largest coffee chain projected a third-quarter adjusted loss of 55 cents to 70 cents per share and said it expects U.S. same-store sales to drop by up to 45%.

Starbucks also said it expects full-year adjusted earnings of about 55 cents to 95 cents per share. (bit.ly/37gysi0)

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