Customers are spending more on customizable cold beverages and food. Morning traffic was also picking up as people returned to offices.
By DEE-ANN DURBIN, AP Business Writer
Starbucks on Tuesday reported record revenue in the April-June period, as strong U.S. demand made up for COVID shutdowns in China. The Seattle-based coffee giant exceeded sales expectations despite continuing store closures and reduced hours in China due to coronavirus measures. Starbucks said its same-store sales in China – its second-largest market after the U.S. – were down 44% in its fiscal third quarter. Starbucks said it ended the quarter with roughly 2,000 stores in 50 cities operating with COVID restrictions.
But strong U.S. demand made up for that. Same-store sales, or sales at stores open at least a year, rose 9% in the U.S., where customers are spending more on customizable cold beverages and food, like lime-frosted coconut bars. Morning traffic was also picking up as more people returned to offices.
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