Starbucks quarterly same-store sales fell 10% as coronavirus closed cafes in China and U.S.
Sales in China have improved as the company reopens cafes.
A pedestrian wearing a protective mask walks in front of a temporarily closed Starbucks coffee shop in Brooklyn, New York, on Monday, April 27, 2020.on Tuesday said that its fiscal second-quarter global same-store sales fell 10% as the coronavirus hit sales in its two largest markets, the United States and China.Earnings per share: 32 cents, adjustedExcluding items, Starbucks earned 32 cents per share, down nearly half from the prior year.
Global same-store sales declined 10%, driven by 13% transactions falling. U.S. same-store sales fell 3% during the quarter, while Chinese same-store sales plunged 50% in the same period. Sales in China have improved after the company started reopening cafes in late February and consumers adapt to a new normal.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Germany receives 10 million masks from ChinaThe global coronavirus pandemic has brought countries around the world to a standstill. Here's the latest updates on worldwide Covid-19 cases, deaths, government responses, and more.
Read more »
10 Financial Moves to Make if You Have Lost Your Job—or Fear You WillThe wave of layoffs makes it imperative to have a financial plan in place, even if you’re still working. Here’s how to do it.
Read more »
Kristin Cavallari and Jay Cutler are divorcing after 10 years togetherReality TV star Kristin Cavallari and former Chicago Bears quarterback Jay Cutler are getting a divorce. Cavallari said the divorce is simply a 'situation of two people growing apart.'
Read more »
10 things in tech you need to know today - Business InsiderApple is locked in a power battle with the UK and France about how COVID-19 should be tracked.
Read more »
The 10 Best Books on Climate ChangeNow is the time to read This Changes Everything: Capitalism vs. the Climate by Naomi Klein.
Read more »