Starbucks posts $5.8m loss as Australians cut back on costly lattes by brewing at home

Result comes as blow to coffee chain’s hopes of cracking the local market after it posted a surplus in 2023Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastStarbucks’ Australian business has posted a financial loss, in a major blow to its turnaround plans and raising questions about the coffee chain’s ability to win over a market wary of costly lattes and flavoured Frappuccino.Starbucks Coffee Australia posted a $5