Same-store sales fell for six consecutive seasons! Starbucks responds to China equity sale

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Recently, Starbucks released its third-quarter financial report for the fiscal quarter of 2025, and its CEO gave a positive response to the progress of Starbucks 'China equity sale in the past.

The financial report showed that Starbucks 'total revenue in the third quarter reached US$9.46 billion, exceeding expectations by US$15 million. However, its global same-store sales fell by 2%, a drop greater than the expected 1.3%. This indicator has declined for six consecutive quarters, which cannot help draw attention to the future development of Starbucks.

However, judging from the official financial report disclosed, Starbucks has achieved an outstanding report card in the China market. Data showed that Starbucks 'revenue in China reached US$790 million in the fiscal quarter, an increase of 8% year-on-year; same-store sales increased by 2%, in sharp contrast to the 14% decline in the same period last year, and the first positive growth in this indicator in 18 months.

Starbucks 'good results in China naturally draw attention to previous rumors of share sales. Earlier this year, CNBC and other media quoted "people familiar with the matter" as saying that more than 30 institutions had evaluated and quoted Starbucks 'China business. It was rumored that Hillhouse Capital, KKR, Ruixing's major shareholder Dazheng Capital, etc. all participated in the bidding for shares in Starbucks China.

In response to this question, Starbucks CEO Nicole gave a more specific response,"More than 20 prospective partners have expressed strong interest in Starbucks's China business, and we are evaluating various options," and said that "our commitment to the China market remains unchanged and we hope to retain a considerable proportion of equity."

Nicol responded that the partner Starbucks hopes to find needs to meet two conditions. First, you must have a common mission and values with Starbucks and "must be consistent on this fundamental point"; second, you can be an excellent partner to operate more efficiently in the local market.

In addition, Starbucks proposed some targeted measures on store operations based on the sales situation reflected in the financial report, such as the decision to accelerate the promotion of the "green apron service model."

According to Starbucks CEO, this model is Starbucks 'largest investment in operating standards and customer service in history. It focuses on five critical moments, which define the experience Starbucks hopes to provide for each customer, with a focus on craftsmanship and customer connection. Covering welcome interactions, order receiving, beverage/food production, order delivery and subsequent connections.

It is understood that 1500 stores have piloted the "green apron service model" and received "very positive feedback" in just eight weeks, and transaction volume, sales and customer service time have improved. Therefore, the brand decided to fully promote this model in all Starbucks stores in the United States starting from mid-August.

In addition, the BBC reported that Starbucks will gradually close stores that are only for self-use. At present, about 90 Starbucks stores in the United States do not provide seats to customers. It adopts an operating model in which customers can pick up meals after placing orders online. Although such stores are popular among some users, in the eyes of Starbucks executives, this form is too transactional and lacks the brand-specific warmth and interpersonal relationships.

Therefore, Starbucks said it will renovate at least 1000 cafes in the United States by the end of next year, replace them with a new look and plan to replace thousands of removed seats, eliminate some stores that are only self-catering, and create a more comfortable in-store experience for users.

Picture from: Internet

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