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Starbucks to Re-Open Two-Thirds of Shanghai Stores

06/03/2022

Less than a minute

2022.06.03 16:47

Starbucks to Re-Open Two-Thirds of Shanghai Stores
Starbucks (SBUX) to Re-Open Two-Thirds of Shanghai Stores

Starbucks (NASDAQ:SBUX) announced that 600 of their 900 stores in Shanghai are reopening, including the Shanghai Roastery, along with mobile and to-go orders.

The re-opening follows a two-month lockdown due to COVID-19.

The news will be welcomed by investors. In the company’s April quarter, COVID-19 related restrictions in China, led to a 23% decrease in China comparable store sales.

Shares of Starbucks are flat in pre-open trading.

06/03/2022

Less than a minute

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