Is the Starbucks Share Price Turning Around? - Starboard Value Acquires Stake
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The shares of the US chain Starbucks suffered heavy losses following the publication of its Q2 figures. With revenue of $8.56 billion and earnings per share (EPS) of $0.68 in Q2, the company fell well short of expectations of $9.16 billion and $0.80 at the time. Starbucks also performed worse than expected in the June quarter. Revenue in the important US and Chinese markets declined, forcing the company to lower its forecasts. Since the beginning of the year, the share price has fallen by more than 20%. However, a turning point could now be imminent....
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