Profit warning from Starbucks
US Starbucks at Goldman Sachs conference said it expects revenue to be ten percent lower in fiscal year 2020 that starts on 1 October – origo wrote after ABC News.
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According to Starbucks, the change was caused by two things: an accelerated share buyback, which saw the company buy back 2 billion USD of its own shares until June, and tax benefits that significantly increased revenue in 2019. (origo)
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