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Starbucks Tracking Above Its Expected Recovery, Regaining Nearly Two-Thirds of Comparable Store Sales

The company has opened a large number of outlets in May and expects to have 90% of stores reopen in June.

Image source: Starbucks

(Reuters) – Starbucks Corp said on Thursday it had regained nearly two-thirds of its comparable U.S. store sales from the prior year, as it reopened stores and modified operations due to the coronavirus-related restrictions.

The coffee-chain said it was tracking slightly above its expected recovery as it opened large number of outlets in the United States in the second week of May.

The company had said it expects to reopen nearly 90% of stores in June. Still, it warned on Thursday in a letter to employees it would take time to fully recover and post positive comparable store sales growth.

Reporting by Aishwarya Venugopal in Bengaluru; Editing by Arun Koyyur.


Source: Reuters

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