Starbucks Expecting Huge Revenue Declines in the Third Quarter
Starbucks (NASDAQ: SBUX) outlined its outlook for its third and fourth quarters as well as fiscal year 2020 on Wednesday, and although it expects improvements, the short term doesn't look too great.
Starbucks has opened 91% of U.S. locations as of the end of May, mostly with to-go service. U.S. comps are up from a low of a 63% decrease in April to a decrease of 43% in May, with sales down 32% during the last week of May. Over 90% of orders utilized the drive-thru or mobile order and pay options in the last week of May.
Image source: Starbucks.
Source Fool.com
