Starbucks plans new cafe format as sales forecast take $3.2 billion hit

By Richard Clough and Anne Riley Moffat, Bloomberg
Starbucks Corp. expects the coronavirus pandemic to reduce sales this quarter by as much as $3.2 billion, dragging down the coffee chain’s performance as it sees a recovery stretching into next year.
The company, which like other restaurants has had a difficult time offering guidance, said Wednesday it expects to report an adjusted loss of 55 to 70 cents a share when it next releases earnings. Operating income will decline as much as $2.2