		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="111265417"
		 data-section="1">
		</amp-ad>
				</div>
			</div>
		</div><p>Starbucks saw its global sales tumble in the first three months of 2020 as coronavirus-related shutdowns hampered its operations.</p>
<p>The Seattle-based coffee giant said conditions will likely worsen in the current quarter before levelling out later this summer, adding recovery will extend into 2021.</p>
<p>However, executives said they are seeing encouraging signs.</p>
<p>The company’s president told a conference call of investors: <em>“I think we emerge from this strengthening the brand and strengthening the connection we have with customers.”</em></p>
<p>Starbucks said its same-store sales – or sales at stores open for at least a year – fell 10% globally in the period between January and March.</p>
<p>More than 75% of its stores in Japan, the UK and Canada are closed, but 98% of stores in China have reopened, albeit with reduced opening hours and seating.</p>
<p>Mr Johnson said Starbucks is predicting a <em>“substantial recovery”</em> in China, its second-largest market, by September 30, when its fiscal year ends.</p>
<p>In the US, Starbucks has temporarily closed half its 8,000 company-owned stores, and is planning to reopen 90% of them with modifications by early June.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
<p lang="en" dir="ltr">To all the healthcare workers and first responders, you are not alone. As you serve your communities, we&#39;re proud to serve you with 1 million free cups of coffee and counting. Thank you for all you do. ðâ <a href="https://t.co/TjUYSdHkMD">pic.twitter.com/TjUYSdHkMD</a></p>
<p>&mdash; Starbucks Coffee (@Starbucks) <a href="https://twitter.com/Starbucks/status/1253322520603750401?ref_src=twsrc%5Etfw">April 23, 2020</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Some locations will offer drive-through and delivery, while others will establish contactless pickup options, chief operating officer Roz Brewer said.</p>
<p>Thirty stores reopening next week will have their cafes open, but seating will not be provided, Ms Brewer said.</p>
<p>She said Starbucks will consider local government restrictions, infection curves and other measures as it reopens stores.</p>
<p>Starbucks has spent heavily to help employees navigate the crisis.</p>
<p>The company has committed to paying all US and Canadian employees up until May 3 whether they are working or not, and those who do come to work are making a premium of 3 dollars (£2.40) per hour.</p>
<p>Starbucks has also provided a million free coffees to frontline health and safety workers.</p>
<p>The company’s revenue fell 5% to 6 billion dollars (£4.8 billion) in its fiscal second quarter, beating analysts’ estimates of 5.9 billion dollars (£4.7 billion), according to FactSet.</p>
<p>The company earned 328.4 million dollars (£265 million) for the quarter, down 50.5% from the prior year.</p>
			<div style="padding-bottom:15px;" class="wordads-tag" data-slot-type="belowpost">
				<div id="atatags-dynamic-belowpost-691b9946ac52f">
					<script type="text/javascript">
						window.getAdSnippetCallback = function () {
							if ( false === ( window.isWatlV1 ?? false ) ) {
								// Use Aditude scripts.
								window.tudeMappings = window.tudeMappings || [];
								window.tudeMappings.push( {
									divId: 'atatags-dynamic-belowpost-691b9946ac52f',
									format: 'belowpost',
								} );
							}
						}

						if ( document.readyState === 'loading' ) {
							document.addEventListener( 'DOMContentLoaded', window.getAdSnippetCallback );
						} else {
							window.getAdSnippetCallback();
						}
					</script>
				</div>
			</div>
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
