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Starbucks

Starbucks Corp sees sales in China, the company’s biggest growth market, recovering by the end of September.
Starbucks Corp sees sales in China, the company’s biggest growth market, recovering by the end of September.

KONTAN.CO.ID - SEATTLE. Starbucks Corp said on Tuesday it sees sales in China, the company’s biggest growth market, recovering by the end of September, following a massive drop in same-store sales in the current quarter on fallout from the coronavirus pandemic, which forced Starbucks to close stores around the globe. Shares of the world’s biggest coffee chain fell nearly 2% in extended trading.

Restaurant chains around the world have felt the impact of lockdowns spurred by the deadly viral outbreak.

Seattle-based Starbucks reported a 10% fall in global same-store sales for its fiscal second quarter ended March 29. Analysts had forecast a 9.71% decline, according to IBES data from Refinitiv.

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