Result comes as blow to coffee chain’s hopes of cracking local market after posting a surplus in 2023
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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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