Starbucks isn’t worried about consumer spending in China, even if other U.S. food and beverage companies might be. Reason: The chain’s established cafes in the region have maintained double-digit sales growth over the past couple of months.
“From a regional perspective, we have seen the momentum of our same-store sales in the fourth quarter sustained in the first two months of the current quarter,” said Starbucks’s president of China and Asia-Pacific, John Culver, at an investor conference Wednesday.
In the fourth quarter, which ended Sept. 30, Starbucks’s same-store sales, including those at cafes open at least 13 months, rose 10% in the China and Asia-Pacific region. Read More