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Starbucks Cuts China Sales Forecast as Coronavirus Disrupts Business

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Starbucks suspended its plans to open more stores in China, as the coronavirus epidemic hit the coffee chain’s results

Starbucks Corp. said the coronavirus epidemic sapped millions of dollars in revenue from its China business, and the coffee giant plans to suspend work to open new stores in the country.

The Seattle-based coffee chain said the virus had reduced revenue expectations in its second-biggest market by at least $400 million for its current quarter. The company reported $745 million in sales in China during the previous three-month period, its fiscal first quarter ended Dec. 29.

 

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The coronavirus: Saving the world from burned, overpriced coffee.

Instead, start Losing tons of profit in Japan. How about in mainland?

Enough Starbucks around the world!

So sad

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Source: CNBC - 🏆 12. / 72 Read more »