A staff member wearing a protective face mask is seen at Starbucks, after the government announced the state of emergency for the capital following an outbreak of the coronavirus disease (COVID-19) in Tokyo, Japan April 8, 2020. - Reuters
NEW YORK: Starbucks Corp on Wednesday forecast a 47% drop in second-quarter earnings, scrapped its full-year forecast and warned that the financial hit from the coronavirus pandemic would extend into the final quarter of the fiscal year 2020.
The company also said it would temporarily suspend its share buyback program and take steps to cut costs, but would maintain its quarterly dividend.
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