Starbucks reiterated that it plans to have 9,000 stores in China by 2025, up from nearly 7,000 today. We’re focusing on capturing high quality, profitable, sustainable growth,” Wong said. “We’re not interested in entering the price war. But Starbucks thinks those competitors will shake out over time. Customer transactions were up 21% but average spending per order fell 9% as consumers spent more cautiously and Starbucks offered more discounts.īelinda Wong, who oversees Starbucks’ China business, said Tuesday that the Chinese market is seeing a rash of lower-priced competitors who are building stores quickly and challenging Starbucks on price. Starbucks also reported mixed results in China during its first quarter. Starbucks said it’s working to bring those customers back with targeted offers and new menu items. stores saw a drop-off in occasional visitors during the quarter, and traffic has continued to be soft in January. While Starbucks’ most loyal customers have kept up their visits, U.S. “As I have shared, Starbucks condemns violence against the innocent, hate, and weaponized speech.” “I am deeply distressed by the violence shaking the region,” Narasimhan said Tuesday. Starbucks and Workers United plan to try to resolve the lawsuit in mediation sessions next month, according to court filings. But boycotters felt the company wasn’t adequately supporting the people of Gaza. Starbucks said it was trying to get the union to stop using its name and likeness, since the post also kicked off protests from pro-Israel demonstrators. Starbucks also faced boycotts in the Middle East and elsewhere after it sued Workers United in October over a pro-Palestinian message posted on a union social media account. where our partners have chosen to be represented by a union, we are committed to finding a constructive path forward with those unions,” Narasimhan said during a conference call with investors. “We believe in a direct relationship with our partners. Starbucks has said it wants to reach a labor agreement with workers this year. Narasimhan on Tuesday reiterated that Starbucks wants to restart negotiations with Workers United, the union that has organized workers in at least 370 U.S.
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