Starbucks | Q1 2023 figures
Challenging times for Starbucks in China.
Problems in China have weighed heavily on the quarterly balance sheet of the world's largest coffee shop chain Starbucks. In the three months to the end of December, like-for-like sales in the country slumped 29 percent year-on-year. The China business has been causing Starbucks difficulties for some time due to repeated covid lockdowns.
Overall, Starbucks increased group-wide sales by five percent - thanks in part to strong gains in its U.S. home market - but fell short of market
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