BUSINESS

Starbucks Outlets On Lock Down In China

Starbucks has closed half of its outlets in China to protect its staff and support government efforts to contain the coronavirus.

The coffee shop chain warned that the rapidly expanding infection is likely to affect its financial performance.

Starbucks has almost 4,300 outlets in China, making it the company’s largest market outside the U.S.

Chinese sales account for about 10% of Starbucks’ global revenue, making the country its most important global growth engine.

Yvad Billings, Readers Bureau, Fellow

Edited by Jesus Chan

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