Starbucks expects six rough months based on COVID-19 experience in China
April 9, 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.
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