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S&P Says Starbucks Faces Risks, But Notes Mobile Progress -- Market Talk

Dow Jones Newswires ·  Jul 30, 2020 06:58

DJ S&P Says Starbucks Faces Risks, But Notes Mobile Progress -- Market Talk

1858 ET - A day after Starbucks reported a $678 million 3Q loss, S&P says there were some positive developments, but considerable risks remain, including the increase in U.S. Covid-19 cases. "We believe Starbucks is successfully leveraging its digital and takeout offerings to weather disruptions to its store operations," S&P says, noting that mobile orders accounted for 22% of transactions, up six percentage points year-over-year. The rating firm believes Starbucks has strong liquidity and "remains committed to its 3x leverage target." (josh.beckerman@wsj.com)

(END) Dow Jones Newswires

July 29, 2020 18:58 ET (22:58 GMT)

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