Seattle / WA. (sc) Coffee giant Starbucks Corporation reported that second-quarter net earnings of fiscal year 2008 totaled 108,7 million USD versus 150,8 million USD for the same period a year ago, a decline of 28 percent. Earnings per share for the quarter was 0,15 USD, down 21 percent from the 0,19 USD per share earned in the prior year period.
The company estimates that costs associated with the implementation of its transformation agenda and charges related to the rationalization of its store portfolio negatively impacted EPS by approximately 0,03 USD per share. Consolidated net revenues increased twelve percent to 2,5 billion USD from 2,3 billion USD for the second quarter of 2007. Analysts on average expected earnings of 0,15 USD per share on revenues of 2,55 billion USD (press release).
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