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

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

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Starbucks’ Australian business has posted a financial loss, in a major blow to its turnaround plans and 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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