As China emerges from almost three years of pandemic lockdowns, the coffee chain's rebound could run up against an array of complications, BofA analysts said.
Starbucks Corp. has banked on China for global growth. But as that country emerges from nearly three years of pandemic lockdowns, the coffee chain’s rebound could run up against an array of complications, BofA analysts said on Tuesday.
“Now... Starbucks Corp. has banked on China for global growth. But as that country emerges from nearly three years of pandemic lockdowns, the coffee chain’s rebound could run up against an array of complications, BofA analysts said on Tuesday. “Now that China has largely abandoned its zero-COVID policy, [Starbucks] appears poised to benefit from China’s long awaited economic reopening,” those analysts — Sara Senatore, Jessica Owusu Afari and Katherine Griffin — said in a note. “[T]hough we note that the timing of this tailwind is still uncertain as the economy struggles with the fallout of policies .
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