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Stock impact report

Starbucks Sees 6 Months of Pain, Based on Its China Experience [Yahoo! Finance News]

Starbucks Corporation (SBUX) 
Last starbucks corporation earnings: 4/28 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.starbucks.com/ir-home/default.aspx
) -- Starbucks Corp. said that a sharp slowdown from the coronavirus pandemic will worsen before getting better, with financial impact extending as far as September.The company based its assessment on the tentative recovery in the Chinese market, Starbucks’ most important along with the U.S. The coffee chain went through social distancing and mandatory closures in the Asian nation earlier in the year, giving the company an early glimpse at how the situation would play out in the U.S. and elsewhere.U.S. same-store sales growth -- a key metric for restaurants -- was 8% in the quarter through March 11, the company said in a filing. That was the strongest pace in four years, but was derailed as the pandemic spread. By the end of the month, sales had settled into a decline of 60% to 70%. The company withdrew its forecast for the year.While the outlook is dark for the time being, Starbucks is framing the future much as Nike Inc. did last month, saying its experience in China shows the finan Show less Read more
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