Correction to Starbucks Sees 2Q EPS Falling Article
April 08 2020 - 8:51PM
Dow Jones News
For the quarter ended March 29, the company expects GAAP
earnings of 28 cents a share and adjusted earnings of 32 cents a
share. The projected EPS reflects expenses such as worker
compensation, inventory write-offs, supplier obligations and
safety-related items, among other things. In last year's second
quarter, Starbucks reported GAAP earnings of 53 cents a share and
adjusted earnings of 60 cents a share.
The retailer said coronavirus-related business disruptions in
China are expected to shave off roughly 15 cents to 18 cents from
its bottom line in the second quarter.
"Starbucks Sees 2Q EPS Falling by About 50%," at 6:04 p.m. EST,
misstated expenses in the second paragraph and misstated business
disruptions in the third paragraph.
(END) Dow Jones Newswires
April 08, 2020 20:36 ET (00:36 GMT)
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