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Starbucks Says Comparable Store Sales Will Substantially Recover In China And U.S. In Fiscal 2021
Starbucks Corp Says Qtrly China Comparable Sales Down 19%
Starbucks Declares Quarterly Cash Dividend
Starbucks Corp is a coffee roaster and retailer of specialty coffee with operations in approximately 82 markets around the world. The Company has over 32,000 Company-operated and licensed stores. It operates through three segments: Americas, International and Channel Development. It also sells a variety of coffee and tea products and license its trademarks through other channels, such as licensed stores, grocery and foodservice. It purchases and roasts coffees that it sells, along with handcrafted coffee, tea and other beverages and a variety of food items through Company-operated stores. In addition to its flagship Starbucks Coffee brand, it sells goods and services under various brands, including Teavana, Seattle’s Best Coffee, Evolution Fresh, Ethos, Starbucks Reserve and Princi.
2401 Utah Ave S
Myron E. Ullman
Independent Chairman of the Board
Kevin Ronald Johnson
President, Chief Executive Officer, Director
Mellody L. Hobson
Independent Vice Chairman of the Board
Patrick J. Grismer
Chief Financial Officer, Executive Vice President
Group President - International, Channel Development and Global Coffee & Tea
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Starbucks Corp's <SBUX.O> business is "steadily recovering" worldwide as most of the coffee chain's stores have reopened with the easing of coronavirus-led restrictions, it said on Tuesday.
* STARBUCKS CORP CEO- U.S. COMPS IMPROVED SEQUENTIALLY FROM -14% IN MAY,TO -1% IN JUNE TO +2% FOR JULY MONTH-TO-DATE. - CONF CALL
Starbucks Corp on Tuesday reported a smaller-than-expected drop in quarterly comparable store sales as more people used its drive-thru and delivery options to buy coffee and food during coronavirus-driven lockdowns.
Chinese Starbucks customers can order the coffee chain's drinks on Alibaba's Taobao marketplace and mobile map app Amap, the companies said on Tuesday, expanding a partnership signed in 2018.
Starbucks Corp <SBUX.O> said on Thursday customers would have to wear face coverings at all company-owned U.S. stores, starting July 15, to contain the spread of the novel coronavirus.
Starbucks Corp <SBUX.O> will pause advertising on all social media platforms as it explores the best ways to help stop the spread of hate speech, the company said in a statement on Sunday.
Starbucks Corp <SBUX.O> said on Wednesday it expects current-quarter operating income to plunge by up to $2.2 billion, and sales to decline for the rest of the year even as nearly all its cafes have reopened following easing of coronavirus lockdowns.
* STARBUCKS - AVERAGE WEEKLY CASH FLOW IS EXPECTED TO BE POSITIVE BY THE END OF Q3
Starbucks Corp on Wednesday forecast its third-quarter operating income to plunge by about $2.2 billion, hit by coronavirus-induced store closures.
Starbucks Corp <SBUX.O> said on Thursday it had regained nearly two-thirds of its comparable U.S. store sales from the prior year, as it reopened stores and modified operations due to the coronavirus-related restrictions.
Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.
Starbucks Corp <SBUX.O> said on Monday it would begin a phased reopening of 150 of its drive-thru locations and some takeaway-only stores in the United Kingdom as the country eases coronavirus-led restrictions on road travel.
Starbucks Corp said on Monday it would begin a phased reopening of all its drive-thru locations and some takeaway-only stores in the United Kingdom as the country eases coronavirus-led restrictions on road travel.
* US SEC INVESTIGATES STARBUCKS CHINA RIVAL LUCKIN OVER ACCOUNTING SCANDAL - WSJ Source text: https://on.wsj.com/2Yed4rm Further company coverage:
Starbucks Corp <SBUX.O> 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...
Starbucks Corp said on Tuesday it expects comparable sales in China in the current quarter to decline between 25% and 35%, hurt by the coronavirus pandemic that has forced it to close stores and limit operations.
Slumping sales at big fast food chains could get a boost as hungry and restless customers spend stimulus checks after long lockdowns, analysts and some operators said ahead of quarterly earnings that will show the extent of damage from the coronavirus slowdown.
Starbucks on Monday said it has entered a strategic partnership with investment firm Sequoia Capital China that will see the two companies make strategic co-investments in China's technology sector.
* BEYOND MEAT ANNOUNCES MARKET ENTRY INTO MAINLAND CHINA; PARTNERS WITH STARBUCKS TO INTRODUCE 'BEYOND BEEF' IN MAINLAND CHINA AS CORE MENU ITEM
* STARBUCKS SAYS STARBUCKS CHINA LAUNCHING NEW PLANT-BASED LUNCH MENU WITH BEYOND MEAT AND OMNIPORK
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