Starbucks expects impact from coronavirus in second quarter

Starbucks expects impact from coronavirus in second quarter
  • Clock-gray 05:12
  • calendar-gray 29 January 2020

Starbucks Corp said on Tuesday the outbreak of a new coronavirus in China would have a material impact on its second-quarter results, APA reports citing Reuters.

The company said it has closed more than half of its stores in China and is modifying operating hours.

Starbucks said it would update its 2020 forecast when it is able to reasonably estimate the impact of the virus outbreak.

Sales at restaurants open for at least 13 months rose 5% in the first quarter ended Dec. 29. Analysts had forecast same-store sales growth of 4.4%, according to IBES data from Refinitiv.

apa-logo-mini

Other news