Starbucks Corp. said that a sharp slowdown from the coronavirus pandemic will worsen before getting better, with financial impact extending as far as September.
The company based its assessment on the tentative recovery in the Chinese market, Starbucks’ most important along with the U.S. The coffee chain went through social distancing and mandatory closures in the Asian nation earlier in the year, giving the company an early glimpse at how the situation would play out in the U.S. and elsewhere. . . . more