Last fall, the company announced a $1 billion investment in employee wages and benefits to boost wages for US workers. The cumulative county COVID-19 case rate map has been replaced with a map. Starbucks said its net income fell 21% to $912.9 million due to higher spending on labor, worker training and supply chain costs. Case and death data will be inclusive of both confirmed and probable cases and deaths. During the period, same-store sales rose 9% in the country. Many states are acting to contain viral spread through mass closures of. On March 24, eager to avoid further economic and social harms arising from business. In the United States, COVID-19 cases top 120,000now the most of any country in the worldand deaths surpass 2,000. However, declining revenue in China was offset by strong demand in the US. President Donald Trump has expressed inconsistent intentions for a national, or even regional, lockdown. Meanwhile, Starbucks faces increasing competition in China as more local coffee brands vie for market share.
Among them, catering revenue fell by 7.7% to 2 trillion yuan. In Beijing, 150 stores, or one-third of the total, have been closed for nearly six weeks.ĭata from National Bureau of Statistics of China shows that in the first half of the year, the total retail sales of consumer goods was 21 trillion yuan, a year-on-year decrease of 0.7%. “For about two-thirds of the quarter, Shanghai, our largest market with more than 940 locations, was closed due to the lockdown. The coffee chain has 15,650 stores in the US and 5,761 in China.Īccording to Starbucks China, the second quarter was the worst since the outbreak. Starbucks said about 2,000 stores in 50 cities were operating under COVID restrictions as of the end of the quarter. Multiple groups of states have formed compacts in an attempt to. states that implemented SIP policies earlier, and in which SIP policies had longer to operate, had lower excess deaths. Same-store sales in China, the second-largest market after the US, fell 44% in the fiscal third quarter. State, territorial, tribal, and local governments have responded to the COVID-19 pandemic in the United States with various declarations of emergency, closure of schools and public meeting places, lockdowns, and other restrictions intended to slow the progression of the virus.
#Us total lockdown professional#
Revenue came in at $8.15 billion, beating expectations of $8.11 billion. The American people deserve an urgent, robust, and professional response to the growing public health and economic crisis caused by the coronavirus. Starbucks on Tuesday reported record revenue for the April-June period, despite continuing store closures and reduced hours in China due to COVID-19 lockdown. Starbucks China sales fell 44% in Q2 Aug2:15 am
Starbucks China sales fell 44% in Q2 - PingWest English 中文
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