Why Shares of Starbucks Are Down Sharply Today
Shares of Starbucks (NASDAQ: SBUX) were down sharply on Monday afternoon after the coffee giant announced that it's moving many of its stores to takeout-only service for at least the next few weeks.
As of 2:15 p.m. EDT, Starbucks' shares were down about 13.3% from Friday's closing price.
Starbucks said over the weekend that it is temporarily moving its stores in the U.S. and Canada to a "to go" operating model, meaning that it won't allow customers to sit and linger in its stores.
Source Fool.com
