Retail News

Starbucks expects six rough months based on COVID-19 experience in China

Bloomberg/Yahoo Finance 04/09/2020

Starbucks posted an eight percent gain in U.S. same-store sales for the quarter ending March 11, but saw revenues drop between 60 and 70 percent by the end of the month as states issued stay-at-home orders. The coffee giant, which pulled its forecast because of uncertainties around the coronavirus outbreak, has said that it expects its business to “fully recover over the next two quarters” based on its experience with the COVID-19 pandemic in China.

MORE ON THIS STORY...

MORE RETAIL NEWS HEADLINES...

Discussions
Check out RetailWire's Engaging Online Discussions Featuring Our Exclusive Braintrust!