Starbucks blames profit drop on changes to accounting

first_imgStarbucks has blamed a 6% drop in international profits for the three months to 31 October on new accounting measures.The group announced profits of $117m (£62m) in the quarter, compared to $124m during the same period in 2005.Starbucks said its revenue had risen 22% to $7.8bn for the full year, leading to overall earnings of $564mn, an increase of 14%. Sales at outlets that had been open for at least a year increased by 5%.Jim Donald, president and chief executive, said the fall in profits was due to two new accounting measures. Starbucks delivered “strong operating results”, opening 2,199 stores worldwide, he said.”We opened a record number of new stores around the world, which contributed to strong top line growth, and we enhanced and expanded our product offerings.”There are over 11,000 Starbucks outlets worldwide, including 520 outlets in the UK and Ireland.last_img read more

Fast reaction: 3 takeaways from No. 2 seed Syracuse’s 11-10 win over No. 15 Yale

first_img Published on May 14, 2017 at 10:08 pm Contact Charlie: [email protected] | @charliedisturco Facebook Twitter Google+ ­­­­In the opening round of the NCAA tournament, second-seeded Syracuse (13-2, 4-0 Atlantic Coast) knocked off No. 15 seed Yale (10-6, 5-1 Ivy), 11-10, on Sunday night at the Carrier Dome. Syracuse’s one-goal game marked the team’s 11th single-score bout this season. Freshman Jamie Trimboli and senior Nick Mariano each scored a pair of goals in a back and forth game that ended with redshirt freshman Stephen Rehfuss’ go-ahead goal with just over two minutes left. Despite winning just four faceoffs all game, Syracuse clawed back and defeated the Bulldogs.Here are three quick reactions to SU’s win over Yale.Stephen Rehfuss plays heroReceiving the pass from Jordan Evans, Rehfuss turned and darted around the cage. As the clock neared two minutes and Syracuse remained knotted in a 10-all tie. Coming around the cage and nearing the 15-yard line, Rehfuss turned and fired, hitting the back of the net. He took a couple of steps forward and fist pumped as the crowd erupted.For the first time all game, Rehfuss found the back of the net. And it came when Syracuse needed it badly.AdvertisementThis is placeholder textSU’s Achilles heel reappears Ben Williams’ inconsistency seemed to dissipate as the NCAA tournament neared. All season he has struggled at the faceoff X, a location he dominated for three years prior. But on Sunday night, the same Williams that went 21 minutes, 16 seconds without a win in the ACC tournament against North Carolina, reappeared. After winning the opening faceoff, Williams lost seven straight before being replaced by Danny Varello — a common substitute for SU head coach John Desko when Williams struggles. Even Varello struggled, losing three straight before Williams jogged back onto the field.Over 40 minutes separated Syracuse’s first faceoff win with its second. Yet, the team trailed by just two at the time. Varello followed up that win with his second — SU’s third overall — eventually resulting in an Orange goal and an 8-8 tie.The rest of the game remained similar: Varello or Williams would approach the faceoff X and usually jogged off in defeat. But somehow, despite the failures at the X, Syracuse managed to keep the game within striking distance.Third-quarter run saves gameEntering halftime, Syracuse trailed by two. The team had just one second-quarter goal and four total to its name. The offense struggled to find possession time from the struggles at the faceoff X. But, in the third quarter, the defense buckled down and faceoffs began to trickle SU’s way.In the third quarter, SU forced three turnovers and won the ground ball battle, despite trailing 22-7 in grounders at the half. A 5-1 run followed and for the first time since the second quarter, SU gripped onto a one-goal lead.The late third-quarter run gave the Orange enough gas to pull out a lead. While that dissipated in the fourth, the run allowed SU to remain within striking distance until Rehfuss put the game away with a bullet. Commentslast_img read more

Channing Frye, Richard Jefferson congratulate LeBron James with hilarious roast

first_imgAs LeBron James reached another milestone Wednesday to pass Michael Jordan for fourth place on the NBA’s all-time scoring list, a couple of former teammates took notice and offered their congratulations. Channing Frye and Richard Jefferson, who played alongside James in Cleveland, playfully roasted James for his latest feat while calling him a “ball hog.” Frye: “If I just shot 14, 15 times a game….. Anyway, congrats man, you deserve it. You suck.”Jefferson: “It couldn’t have happened to a better guy. Except for me or him.”James needed 13 points entering Wednesday’s game to pass Jordan, which he accomplished during the Lakers’ 115-99 loss to the Nuggets. It took James 1,190 games to reach that mark, while Jordan needed 1,072. James now trails only Kareem Abdul-Jabbar (38,387), Karl Malone (36,928) and Kobe Bryant (33,643) on the all-time scoring list. Luke Walton salutes LeBron James’ ‘greatness’ after eclipsing Michael Jordan’s tally Passing Michael Jordan ‘beyond crazy’ for LeBron Jamescenter_img From the visitors locker room at Barclays Center, Richard Jefferson and Channing Frye mockingly congratulated ex-teammate LeBron James tonight on passing Michael Jordan on the all-time scoring list: pic.twitter.com/EV3TSELx0n— Ian Begley (@IanBegley) March 7, 2019Frye started the conversation by saying, “It’s a huge accomplishment for a guy like him who’s shown his consistency of ball-hogging.” Jefferson then chimed in and said, “He never passed the ball. Why don’t you try and pass like the all-time assist leader? Why don’t you try and pass John Stockton instead of trying to pass Kareem [Abdul-Jabbar]? Can you do that?” Related News The two then went back and forth as they joked about James:Frye: “Come up off the rock, buddy. Dribbling the air out of it. It’s ridiculous. It took him long enough. What is this, 19 years?”Jefferson: “It took him years! God, if I kept playing, I would have passed people too.”last_img read more