How Starbucks Plans On Using What It Learned in China From COVID-19
As expected, Starbucks (NASDAQ: SBUX) had a rough go of it during its fiscal 2020 second quarter (the three months ended March 29). The global coffee powerhouse was facing a shutdown in China, its most important growth market, and that shutdown extended to the U.S. and the rest of the world by March. As a result, global comparable-store sales fell 10% from a year ago, revenue fell 5% to $6.0 billion, and adjusted earnings per share fell 47%.
But the recovery is already well under way on the other side of the Pacific, and attention is now being turned to how Starbucks' reopening in the U.S. will play out. The process will be slow, and investors can safely assume growth won't return until 2021 once the coffee empire starts to lap this year's ugly numbers.
Image source: Starbucks.
Source Fool.com
