Strong U.S. performance helps offset China woes for Starbucks
February 3, 2023
Starbucks reported a 10 percent gain in U.S. same-store sales as customer traffic to its coffee shops increased one percent. The chain reported that customers bought a record $3.3 billion in gift cards during the holiday season. The coffee giant’s performance in China, its second-largest market, was way off, with same-store sales down 28 percent as a result of that country’s zero COVID policy.
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