(AP) Starbucks’ recovery slowed at the end of last year as U.S. coronavirus cases mounted.
But the coffee titan is confident its U.S. business will fully recover by March. The Seattle-based company said Tuesday that its sales at stores opened at least a year fell 5% in the October-December period.
That was an improvement from the prior quarter, but still a bigger decline than Wall Street was expecting. Starbucks also fell short of revenue forecasts.
The company reported sales of $6.7 billion in its fiscal first quarter. Starbucks said its business has fully recovered in China, but its U.S. business is still impacted by lower store traffic.
