Starbucks sees 47% drop in second-quarter earnings on coronavirus hit
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(Reuters) - Starbucks Corp on Wednesday forecast a 47% drop in second-quarter earnings, scrapped its full-year forecast and warned that the financial hit from the coronavirus pandemic would extend into the final quarter of 2020.The company also said it would temporarily suspend its share buyback program and take steps to cut costs, but would maintain its quarterly dividend.Starbucks said it now expects to report second-quarter earnings of about 28 cents per share, reflecting the impact of lost..