Starbucks (SBUX) executive says headwinds discussed last quarter have continued, adds deteriorating economic outlook has weighed on customer traffic and the impact is felt broadly across the industry
Says:
- Severe weather impacted both US and total company comp by nearly 3% during Q2.
- In China, company still sees effects of a slower-than-expected recovery.
- Co. continues to feel impact of a more cautious consumer in the United States, particularly with more occasional customers.
- Co. still sees economic volatility in the Middle East, but remains confident in the region's long-term growth opportunities.
30 Apr 2024 - 22:08- - Source: Newswires
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