{"id":93,"date":"2020-07-29T00:09:05","date_gmt":"2020-07-29T00:09:05","guid":{"rendered":"https:\/\/sidisltd.com\/?p=93"},"modified":"2020-09-23T18:42:40","modified_gmt":"2020-09-23T18:42:40","slug":"starbucks-says-business-steadily-recovering-as-stores-reopen","status":"publish","type":"post","link":"https:\/\/sidisltd.com\/zh\/2020\/07\/29\/starbucks-says-business-steadily-recovering-as-stores-reopen\/","title":{"rendered":"Starbucks says business &#8216;steadily recovering&#8217; as stores reopen"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"93\" class=\"elementor elementor-93\" data-elementor-settings=\"{&quot;ha_cmc_init_switcher&quot;:&quot;no&quot;}\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-626fa4a8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"626fa4a8\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-78aee919\" data-id=\"78aee919\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-64dbe0e0 de_scroll_animation_no elementor-widget elementor-widget-text-editor\" data-id=\"64dbe0e0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\n<p>(Reuters) &#8211; Starbucks Corp\u2019s (<a href=\"https:\/\/www.reuters.com\/companies\/SBUX.O\">SBUX.O<\/a>) business is \u201csteadily recovering\u201d worldwide as most of the coffee chain\u2019s stores have reopened with the easing of coronavirus-led restrictions, it said on Tuesday.<\/p>\n\n\n\n<p>Shares of the Seattle-based company rose about 6.5% in extended trading after it said it would return to profitability in the current quarter on improving sales and margins.<\/p>\n\n\n\n<p>Comparable store sales fell 40% globally and 41% in the Americas for Starbucks\u2019 third quarter ended June 28. This was less than analysts\u2019 forecast for declines of 42.05% and 42.82% respectively, according to IBES data from Refinitiv.<\/p>\n\n\n\n<p>Starbucks, like many restaurants and coffee chains, took a big hit from government-imposed measures to curb the pandemic, prompting it to rely more on delivery and drive-thru services to make up for lost business.<\/p>\n\n\n\n<p>More people used the chain\u2019s drive-thru and delivery options to buy coffee and food, with mobile orders rising 6 percentage points from a year ago to make up 22% of total transactions in the quarter.<\/p>\n\n\n\n<p>Starbucks plans to deploy new handheld point-of-sale devices for employees to take orders in drive-thru lines to speed service. It will also roll out curbside pickup and a new plant-based protein box.<\/p>\n\n\n\n<p>\u201cOur recovery strategy is working,\u201d said Chief Executive Kevin Johnson said during a call with investors. \u201cWe have future-proofed our business model and reinforced our balance sheet to enable us to play offense.\u201d<\/p>\n\n\n\n<p>About 97% of global Starbucks-operated locations are now open. This includes 99% of outlets in China and 96% of stores in the United States, which started the quarter with less than half of locations open.<\/p>\n\n\n\n<p>For its full fiscal year, which ends in September, Starbucks expects global same-store sales to be 12-17% lower. Comparable sales in China should see a substantial recovery by December and U.S. sales expected are to recover by March 2021.<\/p>\n\n\n\n<p>Ninety-day active U.S. members in the Starbucks Rewards loyalty program dropped 5% year over year to 16.3 million as customers used it less often because of temporary store closures.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Starbucks Corp\u2019s business is \u201csteadily recovering\u201d worldwide as most of the coffee chain\u2019s stores have reopened with the easing of coronavirus-led restrictions, it said on Tuesday.<\/p>","protected":false},"author":1,"featured_media":94,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-93","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/sidisltd.com\/zh\/wp-json\/wp\/v2\/posts\/93","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sidisltd.com\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sidisltd.com\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sidisltd.com\/zh\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sidisltd.com\/zh\/wp-json\/wp\/v2\/comments?post=93"}],"version-history":[{"count":6,"href":"https:\/\/sidisltd.com\/zh\/wp-json\/wp\/v2\/posts\/93\/revisions"}],"predecessor-version":[{"id":273,"href":"https:\/\/sidisltd.com\/zh\/wp-json\/wp\/v2\/posts\/93\/revisions\/273"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sidisltd.com\/zh\/wp-json\/wp\/v2\/media\/94"}],"wp:attachment":[{"href":"https:\/\/sidisltd.com\/zh\/wp-json\/wp\/v2\/media?parent=93"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sidisltd.com\/zh\/wp-json\/wp\/v2\/categories?post=93"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sidisltd.com\/zh\/wp-json\/wp\/v2\/tags?post=93"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}