Times Online: Starbucks profits dive by 97%
http://business.timesonline.co.uk/to...cle5127267.ece
Profits at Starbucks collapsed 97 per cent in the fourth quarter of the year after the ubiquitous coffee chain was forced to absorb the effect of weakening demand and the cost of closing stores earlier this year. As the group admitted to the earnings plunge, shares in the Seattle-based group sank 3 per cent in after hours trading to $9.91 each. Two years ago, the stock fetched $38.41.
http://business.timesonline.co.uk/to...cle5127267.ece
Profits at Starbucks collapsed 97 per cent in the fourth quarter of the year after the ubiquitous coffee chain was forced to absorb the effect of weakening demand and the cost of closing stores earlier this year. As the group admitted to the earnings plunge, shares in the Seattle-based group sank 3 per cent in after hours trading to $9.91 each. Two years ago, the stock fetched $38.41.
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