Starbucks reports quarterly loss, as pandemic hurts profits
Coffee chain Starbucks swung to a loss, according to its quarterly report on Tuesday, after seeing comparable store sales decline by 40 percent globally. The company reported a loss of 0.46 cents per share, compared with a $0.78 profit in the prior year. The loss came in slightly better than expectations. In the previous quarter, the company had a profit of $0.32 per share.