[lbo-talk] Starbucks sees profits evaporate

uvj at vsnl.com uvj at vsnl.com
Wed Nov 12 09:34:44 PST 2008


Monday, 10 November 2008

Starbucks sees profits evaporate http://news.bbc.co.uk/2/hi/business/7721166.stm

Starbucks has seen its fourth-quarter profit almost wiped out by the cost of closing under-performing outlets and falling customer numbers.

Reporting its global results for the three months to 28 September, its net profits totalled $5.4m (£3.5m), down from $158.5m a year earlier. The US coffee giant said $105m of the fall was due to the cost of its continuing restructuring work. http://news.bbc.co.uk/2/hi/business/7721166.stm



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