Starbucks Grows Comps 12% in the U.S.
For Starbucks (NASDAQ: SBUX), being a global enterprise certainly has its benefits. Among other things, it gives the coffeehouse chain the ability to lean on different markets to drive growth. However, the coronavirus pandemic has complicated the picture. For example, in the latest quarter China's "zero COVID" policy caused same-store sales (or "comps") to fall 23% year over year there.
On the domestic front, it's a different story. With about two-thirds of Americans vaccinated, most restrictions have been lifted, and Starbucks was able to increase U.S. comps by 12% last quarter. Because it generates 66% of its overall revenue from the U.S. market, where it has 15,544 locations, this is clearly a positive development for the company.
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Source Fool.com
