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.