March 5, 2020 / 11:07 PM / a month ago

BRIEF-Starbucks Says No Perceptible Signs Of Covid-19 Impact On U.S. Business To Date

March 5 (Reuters) - Starbucks Corp:

* STARBUCKS CORP - TO DATE, THERE ARE NO PERCEPTIBLE SIGNS OF COVID-19 IMPACT ON OUR U.S. BUSINESS

* STARBUCKS CORP - CURRENTLY, MORE THAN 90% OF OUR STORES IN CHINA ARE OPEN BUT OPERATING UNDER ELEVATED SAFETY PROTOCOLS

* STARBUCKS CORP - MAJORITY OF STARBUCKS STORES IN CHINA THAT ARE CURRENTLY OPEN ARE OPERATING AT REDUCED HOURS

* STARBUCKS - EXPECT AT END OF Q2 FY20, ABOUT 95% OF OUR STORES IN CHINA WILL BE OPEN BUT WILL CONTINUE TO OPERATE WITH ELEVATED SAFETY PROTOCOLS

* STARBUCKS CORP - REOPENED OUR CHINA HEADQUARTERS, REGIONAL SUPPORT CENTERS (EXCLUDING WUHAN SUPPORT CENTER IN HUBEI PROVINCE)

* STARBUCKS CORP - DUE TO COVID-19 IN CHINA, CURRENTLY ESTIMATE COMP STORE SALES IN CHINA FOR Q2 WILL BE DOWN ABOUT 50% VERSUS THE PRIOR YEAR

* STARBUCKS - EXPECT A COVID-19-RELATED HEADWIND OF APPROXIMATELY $400 MILLION TO $430 MILLION TO CHINA’S REVENUE IN Q2 FY20 VERSUS PRIOR EXPECTATIONS

* STARBUCKS - BUSINESS DISRUPTION RELATED TO COVID-19 IN CHINA EXPECTED TO HAVE AN ADVERSE IMPACT TO Q2 GAAP, NON-GAAP EARNINGS PER SHARE IN RANGE OF $0.15 TO $0.18

* STARBUCKS CORP - SOME STORE OPENINGS PLANNED FOR FISCAL YEAR 2020 IN CHINA WILL LIKELY BE DEFERRED TO FISCAL YEAR 2021

* STARBUCKS CORP - WE BELIEVE THAT FINANCIAL IMPACTS OF COVID-19 ARE TEMPORARY

* STARBUCKS - ESTIMATES FOR CHINA’S Q2 COMP STORE SALES, REVENUE REFLECT CURRENT EXPECTATION THAT ALMOST ALL STORES IN MARKET WILL BE OPEN BY QUARTER END

* STARBUCKS CORP - STARBUCKS BUSINESS OPERATIONS IN JAPAN, SOUTH KOREA AND ITALY HAVE ALSO BEEN IMPACTED BY STORE CLOSURES AND/OR REDUCED CUSTOMER TRAFFIC

* STARBUCKS - CURRENT ESTIMATE OF IMPACT OF COVID-19 IS LIMITED TO Q2, DOES NOT INCLUDE POTENTIAL BUSINESS IMPACTS IN ANY STARBUCKS MARKETS BEYOND CHINA

* STARBUCKS - SEE ENCOURAGING SIGNS OF RECOVERY IN CHINA, ARE PREPARED TO RESPOND TO IMPLICATIONS OF COVID-19 IN EVERY MARKET AROUND WORLD

* STARBUCKS CORP - DURING FEBRUARY, STARBUCKS CHINA’S COMPARABLE STORE SALES WERE DOWN 78% VERSUS THE PRIOR YEAR

* STARBUCKS CORP - IN LAST FISCAL WEEK OF FEB., STARBUCKS CHINA’S MOBILE ORDERS ACCOUNTED FOR ABOUT 80% OF SALES MIX

* STARBUCKS CORP - ACTIVITIES RELATED TO STARBUCKS CHINA’S DEVELOPMENT OF NEW STORES HAVE BEEN TEMPORARILY PAUSED Source text: (bit.ly/2TUfS9t) Further company coverage:

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