Starbucks withdraws its 2020 financial forecast, and more than 95% of stores in China open

Starbucks withdraws its 2020 financial forecast, and more than 95% of stores in China open
On April 8, local time in the United States, Kevin Johnson and CFO Pat Grismer, President and CEO of Starbucks Coffee Company, issued an open letter to shareholders.Due to the stagnation of performance caused by the earlier epidemic, the Chinese market has brought about a revenue impact of 15 to 18 cents on Starbucks’ earnings, plus the impact of the US market, Starbucks withdrew its original 2020 performance expectations.According to the open letter, in the first quarter, China was Starbucks ‘most influential market, with an initial same-store replacement of about 50%.In February, Starbucks China’s same-store merger decreased by 78%. Since then, it has gradually recovered in March. By the last week of March, the same store was only replaced by 42%, and the same store decreased by up to 90% when February sales were the lowest.Throughout March, the same store in Starbucks China was initially replaced with 64%.Under the influence of the new coronary pneumonia epidemic, Starbucks has scheduled a store opening plan in China.In late March, Starbucks had additional new stores opened, including Shenzhen Starbucks Coffe Express?Concept Store.At present, Starbucks’ business in China is gradually recovering, and more than 95% of its stores have resumed business.With the gradual recovery of the Chinese market, the proportion of shop orders compared to mobile phone orders is increasing.Starbucks expects that business will be fully restored in the next two quarters.For the Air Force, Starbucks expects revenue to grow 6% to 8% in fiscal 2020, and global same-store sales are expected to grow 3% to 4%.After withdrawing the disclosure of financial expectations, Starbucks decreased by 2%. Until now, Starbucks has dropped by 15 this year.58%.In the U.S. market, the new crown epidemic has been noticed since March, and the March 11th consecutive year saw Starbucks’ same store growth in the United States in the first quarter.Same store growth is 8% per year, and same store transaction volume is growing 4% per year, which is the best result in four years.But from March 12, Starbucks America’s performance began to be affected by the epidemic. By the last week of March, Starbucks America’s same store totaled more than 60%.Starbucks said in an open letter, “We are fully financially capable of meeting current challenges.We still believe that these special circumstances are temporary, and we expect Starbucks to come out of the global crisis and become more powerful than before.”Sauna, Ye Wang Wang Ziyang Picture Source Website Screenshot Editor Zhu Fenglan proofreading He Yan