Starbucks withdraws guidance for fiscal 2020

Withdrawing guidance for fiscal 2020 that co introduced on october 30, 2019.committed to pay all starbucks u.s. & canada retail partners through may 3, whether they are working or not.expect negative financial impacts to q3 to be significantly greater than they were in q2 and to extend into q4.starbucks - business disruption related to covid-19 in china had adverse impact to starbucks gaap & non-gaap eps for q2 in line with previous expectations.temporarily suspended share repurchase program.taking steps to defer capital expenditures and reduce discretionary spending.preliminary estimates for q2 fy20 gaap and non-gaap eps are approximately $0.28 and $0.32.do not expect to reduce quarterly dividend.starbucks - actions co took in china, beginning late jan, contributed to steady business recovery co is experiencing, with over 95% of stores now open.starbucks - quarter-to-date through march 11, u.s. comparable store sales growth was 8%, with comparable transaction growth of 4%.many china stores are operating with reduced hours and limited seating in compliance with local guidelines.comparable same store sales in u.s. began to decline on march 12 and steadily worsened.virus did not begin to materially impact u.s. business results until mid-march.at quarter end, 58% of u.s. company-operated stores were drive-thru locations, of which 76% were open.
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