Starbucks plans to expand its coffee delivery service in China, covering 3000 stores nationwide in October
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Starbucks said the delivery service has covered 2100 stores in 30 Chinese cities and will provide coffee delivery service in 3000 stores across China by October this year.
Starbucks plans to launch coffee delivery services in 15 other Chinese cities. The US coffee chain is battling fast-growing rival Luckin Coffee in the world's second-largest economy.
Kevin Johnson, chief executive of Starbucks, said that in just four months, Starbucks had covered 2100 stores in 30 cities in China. By October, Starbucks will offer coffee delivery services in 3000 stores across the country.
Johnson (Kevin Johnson), CEO of Starbucks, says its competitors are short-sighted and short-sighted, while Starbucks is looking at long-term growth in the long run. Luckin Coffee, Starbucks' main challenger in China, is offering convenient takeout and beverage discounts to compete for customers. The company recently applied for IPO on Nasdaq. In the listing document, Luckin Coffee said it would continue to invest heavily in trade-in promotions and sales.
Starbucks, a coffee chain, saw significant sales growth in its two major markets, the United States and China, last quarter. It launched some new drinks in the United States, which successfully attracted more people, increasing same-store sales in the United States by 4%, while strengthening its Chinese takeout network. It increased the company's local same-store sales by 3%. Starbucks also raised its full-year profit forecast.
Starbucks Co., SBUX posted better-than-expected second-quarter profits and raised its sales growth forecast for the current fiscal year, suggesting the chain is reviving sales in key markets.
Starbucks shares were flat in after-hours trading on Thursday. By Thursday's close, the coffee giant's shares had risen more than 19% this year and hit a 52-week intraday high on Thursday.
Starbucks said Thursday that same-store sales rose 3% in the second quarter, 4% in the Americas and 3% in china, the company's second-largest market.
Starbucks reported on Thursday that second-quarter sales were slightly lower than Wall Street forecasts, but earnings beat expectations. Johnson said Starbucks can win in China because of its excellent quality, while analysts pointed out that Starbucks, in cooperation with Alibaba, has added delivery services to more than 2100 stores in the country, has great potential for future growth, and is optimistic that Starbucks will maintain its market share.
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The price of coffee beans is down for more than 10 years! Brazil's production increases, Lille devalues and considers selling rights
Professional coffee knowledge exchange more coffee bean information Please follow Coffee Workshop (Wechat official account cafe_style) although coffee drinks are becoming increasingly popular around the world, prices for coffee beans have been weakening since October last (2018) and have fallen by 25 per cent to a low of more than 10 years. The Wall Street Journal reported on the 22nd that according to the InterContinental Exchange Group (Intercontinental Exchange)
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Starbucks criticizes Ruixing for being short-sighted and short-sighted, and plans to expand the scope of Chinese takeout coffee service.
For more information on coffee beans, please follow the coffee workshop (Wechat official account cafe_style). Starbucks reports its latest results and is satisfied with the growth of same-store sales. On April 25, Starbucks released its second-quarter results, bringing Starbucks shares to their highest level in the past year. Starbucks' total revenue for the quarter was $6.3 billion, compared with the same period last year.
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