Starbucks post losses for the first time since 1992
July 31st, 2008 Leave a comment Visited 29 times, 2 so far today
Starbucks post losses for the first time since 1992
US based Starbucks has come out with their latest revenue report and the company has posted a loss for the first time since they went public.
The company said that they would now close down more stores than open in the next financial year.
This move was welcomed by the investors and the company’s share improved at the stock market.
The company has posted a net loss of $6.7 million, or 1 cent per share. This is disappointing compared to profits of $158.3 million, or 21 cents per share last year in the same period.
The total revenues in the period for the company were up at $2.6 billion from $2.4 billion.
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