STARBUCKS on Tuesday (Wednesday in Manila) reported record revenues in April to June as strong United States demand made up for Covid-19 shutdowns in China.
The Seattle, Washington-based coffee giant exceeded sales expectations despite continuing store closures and reduced hours in China due to coronavirus restrictions. It said same-store sales in the East Asian country — its second-largest market after the US — dropped 44 percent in its fiscal third quarter. It added that it ended the three-month period with roughly 2,000 stores in 50 cities operating with Covid restrictions.
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