Starbucks introduced the Irish Cream Cold Brew in December as its latest holiday drink.
The coffee chain will likely face questions surrounding its business in China as more cases of the Wuhan coronavirus are confirmed and Luckin Coffee now has more Chinese locations.Starbucks President and Chief Executive Officer Kevin Johnson is pictured at the Annual Meeting of Shareholders in Seattle, Washington on March 20, 2019.is expected to report its fiscal first-quarter earnings after the bell Tuesday.
Starbucks executives will likely face a flurry of questions about their response to the Wuhan coronavirus outbreak, which hasso far. The coffee chain has closed all cafes and halted delivery for locations in the Hubei province, where the virus originated. Bernstein analyst Sara Senatore estimates that amounts to roughly 3% of its Chinese locations. China is Starbucks' second-largest market, behind the United States..
On Monday, a Luckin spokesperson said the company proactively closed its coffee stores in Wuhan for the Lunar New Year holiday and has strict nationwide policies in place to monitor the situation. In fiscal 2020, Starbucks expects to add 2,000 net new locations worldwide. It is forecasting its fiscal 2020 revenue to rise between 6% and 8% and global same-store sales growth in a range of 3% to 4%.meaning that it would store more carbon than it emits, eliminate waste and provide more freshwater than it uses. Part of its plan to reach such an ambitious goal includes adding more plant-based menu options and shifting to reusable packaging.
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