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Starbucks sales miss as virus spike keeps customers at home
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Starbucks sales miss as virus spike keeps customers at home

file-photo--customers-sit-inside-a-starb

Starbucks on Tuesday (Jan 26) reported a bigger-than-expected fall in quarterly
comparable sales as the rising number of coronavirus cases in the United States
kept customers at home, sending its shares 2 per cent lower in extended trading.

 

The world's largest coffee chain's global same-store sales fell 5 per cent in
the first quarter, more than analysts' estimates of a 3.4 per cent decline,
according to Refinitiv IBES data.

 

The second wave of COVID-19 infections and accompanying restrictions dented
traffic at the coffee chain's stores, hampering its efforts to boost demand through
product launches and new drive-thrus.

 

Comparable sales declined 6per cent for the Americas region, compared with
a 5.2 per cent fall expected by analysts.

 

But in China, Starbucks' biggest growth market, comparable sales rose 5 per
cent as the company benefited from the popularity of its rewards program
and the return of pre-coronavirus consumer habits.

 

For the second quarter, Starbucks said it expects US comparable sales to rise
between 5 per cent and 10 per cent, while in China they were forecast to grow

nearly two-fold a year after the pandemic hit the region.

 

Starbucks also said Chief Operating Officer Roz Brewer would be leaving
the company next month to take a chief executive officer role at another
company.

 

 

Net revenue fell 5 per cent to US$6.7 billion, missing expectations of
US$6.93 billion.



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The British & Irish Lions have confirmed the match against Japan at Murrayfield next month will feature a restricted crowd of 16,500 spectators the biggest attendance for a rugby match in the UK in 16 months. As previously British Irish Lions Rugby  reported by the Guardian, while organisers are planning for the tour of South Africa to take place behind closed doors, the Lions were hopeful of Murrayfield being 25% full.



-- Edited by shantot on Saturday 5th of June 2021 05:07:04 AM

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The USA Sevens is a rugby sevens tournament held annually during March in the United States. The USA Sevens is the largest annual rugby competition in North America, drawing over 60,000 fans, and is broadcast live in the United States by ESPN. The USA Sevens was introduced in 2004, originally USA 7s  in the Los Angeles suburb of Carson, California.



-- Edited by shantot on Saturday 5th of June 2021 09:38:15 AM

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