Starbucks has reported a 5% drop in global same store sales for its first quarter 2021 (ending in December 2020). US like-for-like store sales have dropped by 6% while international were down by 3%. China same store sales were up by 5%. The global decline is overall caused by a decrease in comparable transactions although partially offset by increase in average tickets.
The company announced 278 net new stores translating into a 4% year-over-year unit growth for a total of 32,938 units worldwide (51% company owned).
Starbucks
The company started in 1971 as a roaster and retailer of whole bean and ground coffee, tea and spices with a single store in Seattle’s Pike Place Market. Today, Starbucks serves millions of customers every day with more than 30,000 retail stores in 80 markets. For more information: https://www.starbucks.com
Read more on: https://www.seattletimes.com/business/starbucks/starbucks-sales-rise-in-china-countering-weakness-at-home/
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