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The Guardian - AU
The Guardian - AU
Business
Jonathan Barrett Senior business reporter

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

Starbucks United States Australia Brian Niccol Michael Smith Withers
Commuters walk past a shuttered Starbucks
Starbucks Coffee Australia posted a $5.8m loss last financial year. Photograph: Daniel Munoz/Reuters

Starbucks’ Australian business has posted a financial loss in a major blow to its turnaround plans, 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 $5.8m loss last financial year, new documents lodged with the regulator show, in a period marked by rising living costs.

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