Cheraw Chronicle

Complete News World

Starbucks shows strong recovery in US and China housing markets

Coffee chain Starbucks has fully recovered from its sale in the United States from the Corona dip last year. The US interest is also doing good business in China’s vital market. That’s why Starbucks raises its fiscal outlook for the entire fiscal year.

To gauge the recovery in its home market, Starbucks is looking at sales in stores that have been open for more than a year. In the last quarter, they were 9 percent higher than they were a year ago. Starbucks benefits, among other things, because the United States is reasonably quick to vaccinate against the corona virus.

Also luxury coffees, other beverages and snacks were sold in other parts of the world. This is mainly because sales in China were almost twice as high as in the first three months of 2020. At that time, the corona epidemic started in China and caused economic disruption in the early stages.

Very satisfied

Starbucks says this is very satisfying in numbers. As a result, total sales increased 11 percent to $ 6.7 billion, and earnings per share increased. According to the company, sales and profits will be slightly higher than previously expected for the entire broken financial year of Starbucks.

Still, analysts are not entirely convinced. Experts have already speculated that Starbucks in general will show a significant recovery, and they were really relying on strong results for the global film. It is also surprising that Starbucks did not gain so many customers in the United States. The number of transactions is low compared to the previous year. Americans going to Starbucks have been spending a lot more on a visit recently than ever before.

READ  Belgian murder couple sentenced to 30 and 24 years in prison after several years on flights

You can follow these topics