From what I have read they reported losses in England but England is saying they made profits.
The company paid no income taxes on revenue of 1.2 billion pounds ($1.94 billion) over the past three years by using intra- company transfers and loans to record a loss for its British business, Reuters reported Oct. 15, citing company filings. There is no suggestion the Seattle-based company has broken the law.
Thanks very much for this. Until this is resolved, it must at least in part be responsible for the dramatic decline in price. It doesn't help that Howard Schultz wants to open many more stores in the face of a global recession...a fate that he rescued SBUX from years ago. #$%$?