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July 29, 2020

Starbucks recovers as stores reopen

SEATTLE (AP) — Starbucks says it's seeing steady recovery as its stores reopen, but it expects the impact of the new coronavirus to last well into the fall.

The coffee giant said Tuesday that revenue in its fiscal third quarter plummeted 38% to $4.2 billion. That was still ahead of Wall Street's forecast of $4 billion, according to analysts polled by FactSet.


 
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