People are wearing protective face masks near Starbucks downtown as the city enters Phase 2 of the reopening following restrictions imposed to contain the June 23, 2020 coronavirus pandemic in New York City.
Noam Galay Picture of Getty
Starbucks fell to losses during its third fiscal quarter as its in-store sales fell 40 percent after the coronavirus pandemic.
The company̵7;s shares rose by more than 2% in expanded trading.
Here’s what the company said for the quarter ended June 28, compared to what Wall Street expected, based on a survey of Refinitive analysts:
- Losses per share: 46 cents, adjusted against 59 cents
- Revenue: $ 4.22 billion US $ 4.07 billion USA
Excluding the positions, Starbucks lost 46 cents a share, narrower than the loss of 59 cents a share expected by analysts polled by Refinitive.
Net sales fell 38% to $ 4.22 billion, exceeding expectations of $ 4.07 billion. World sales in the store fell by 40% during the quarter.