Starbucks sees sales impact from coronavirus stretching into end of 2020

Starbucks sees sales impact from coronavirus stretching into end of 2020

Starbucks Corp said on Wednesday the financial hit from the coronavirus pandemic would extend into the final quarter of 2020, but added that it had no plans to cut its quarterly dividend.

Spread of the coronavirus disease (COVID-19) in Tokyo
A staff member wearing a protective face mask is seen at Starbucks, after the government announced the state of emergency for the capital following an outbreak of the coronavirus disease (COVID-19) in Tokyo, Japan April 8, 2020. REUTERS/Issei Kato

REUTERS: Starbucks Corp said on Wednesday the financial hit from the coronavirus pandemic would extend into the final quarter of 2020, but added that it had no plans to cut its quarterly dividend.

Starbucks also said it would temporarily suspend its share buyback program, while taking steps to delay expenditures and reduce costs.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Anil D'Silva)

Source: Reuters

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