Starbucks slid to its first quarterly loss as a public company on Wednesday as charges related to its decision to close more than 650 cafés wiped out profits at the biggest US coffee shop chain.
The report came a day after Starbucks reshuffled its top management team and announced that it would increase to 13,000 the number of jobs to be cut by the company as part of a shake-up launched in January by Howard Schultz, chief executive.
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Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
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