Coronavirus Chaos Forces Starbucks To Shutter Almost Half Its Stores In China

By Tyler Durden

Starbucks announced Tuesday that it could take a big financial hit from the coronavirus outbreak in China, as it was forced to close thousands of stores in top operating markets, reported Reuters.

The outbreak of the deadly disease has so far resulted in 132 deaths and over 6,145 confirmed cases.

Authorities have locked down 15 cities and all transportation networks, along with 57 million people confined to their homes. Many of these cities have shuttered factories and all retail stores for the next several weeks.

Starbucks said it closed more than 2,000 out of its 4,292 stores in China, which caused investors to sell the stock, down about one percent on Wednesday morning.

Management expects a material impact on global sales as there’s no clear indication when stores will reopen, considering confirmed cases and deaths of the virus continue to rise exponentially.

The true extent of the damage to the world’s largest coffee chain might not be realized until March, but the company stressed in a earnings call on Tuesday that long-term double-digit growth expectations won’t be affected.

Activist Post Daily Newsletter

Subscription is FREE and CONFIDENTIAL

Free Report: How To Survive The Job Automation Apocalypse with subscription

Source Article from

Related Posts
This Woman Invented A Tent For Refugees That Collects Rainwater And Stores Solar Energy

Mayukh Saha, Truth Theory Waking TimesSyria has been reeling under a civil war since 2011

U.S. Lawmakers Demand Amazon Disclose How Ring Stores Data

By Aaron Kesel U.S. lawmakers are demanding that Amazon tell them more about how Ring,

Uhh, Part of the Facility Where Russia Stores Smallpox and Ebola Exploded

блядь! An explosion at Russia’s State Research Centre of Virology and Biotechnology (Vector)

Hits: 49

You can leave a response, or trackback from your own site.

One Response to “Coronavirus Chaos Forces Starbucks To Shutter Almost Half Its Stores In China”

  1. synagogue of satan says:

    More Fear Porn for the goyim

Leave a Reply


Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes