For the quarter ended March 29, the company expects GAAP earnings of 28 cents a share and adjusted earnings of 32 cents a share. The projected EPS reflects expenses such as worker compensation, inventory write-offs, supplier obligations and safety-related items, among other things. In last year's second quarter, Starbucks reported GAAP earnings of 53 cents a share and adjusted earnings of 60 cents a share.

The retailer said coronavirus-related business disruptions in China are expected to shave off roughly 15 cents to 18 cents from its bottom line in the second quarter.

"Starbucks Sees 2Q EPS Falling by About 50%," at 6:04 p.m. EST, misstated expenses in the second paragraph and misstated business disruptions in the third paragraph.

(END) Dow Jones Newswires

April 08, 2020 20:36 ET (00:36 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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