Starbucks is growing vigorously – but China problems are weighing on

Released on 28. 10. 2021

  • Business is flourishing at the US coffee house chain Starbucks. Photo: Jens Kalaene

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Starbucks has presented its quarterly figures: Although revenues and operating profit have increased, investors were disappointed. The reason is the business of the café chain in China.

Seattle (dpa) – Business is flourishing at the world’s largest café chain Starbucks – but not in the important foreign market of China.

In In the three months to the end of September, the company increased its revenues year-on-year by 31 percent to 8.1 Billion dollars (6.9 billion euros), as it announced after the US market closed. Operating profit even increased 31 percent to $ 1.5 billion.

The annual report was still badly received by investors – the share reacted after the trading hours with significant price losses. Because while Starbucks benefited from the recovery from the pandemic almost around the world, a new corona wave in China caused lockdowns there again. This led to a decline in like-for-like sales of seven percent in Starbucks’ largest growth market.

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