![]() ![]() ![]() With continued focus on building connections between partners and customers, Starbucks strives to meet customers where they are, even as transactions have migrated from dense metro centers to suburbs, and from cafés to drive-thrus. As Customers Seek Reconnection, Starbucks Provides Convenient, Elevated And Personalized Experiences This week, Starbucks announced the company’s 5,000 th store opening in China, demonstrating continued confidence in Starbucks long-term growth opportunity in China.Ģ. In Q2, Starbucks opened 110 net new stores, equating to 14% growth in net new stores over the past 12 months. ![]() As COVID-related travel restrictions subsided late in the quarter, the market saw momentum in customer mobility, particularly in the residential, office and commercial trade zones. In China, Starbucks reported a 91% comparable store sales growth, including VAT favorability of approximately 9 percentage points. Importantly, the company furthered its three business-driving initiatives fundamental to the company’s “Growth at Scale” agenda: elevating the customer experience, driving relevant beverage innovation, and expanding digital customer engagement. This was evidenced by sales in the U.S., where second-quarter comparable store sales rose to 9% in the U.S., with average ticket meaningfully higher than pre-pandemic levels. With vaccination programs underway, and in turn, increased customer mobility, the company has begun to see what it describes as “The Great Human Reconnection,” which is coming to life in stores globally as the COVID-19 vaccine distribution progresses at varying rates. The company continues to monitor events in real-time, quickly adapting to changing conditions and working to provide safe, familiar and convenient experiences for our partners (employees) and customers. With its Growth at Sale agenda in place well before the global pandemic emerged, Starbuck quickly set guiding principles and established store protocols to navigate the pandemic globally. Starbucks ‘Growth At Scale’ Agenda Drives Continued Momentum Starbucks was built for this moment, and as we celebrate our 50th anniversary, we remain confident in our ability to execute our ‘Growth at Scale’ agenda and unlock the full potential of the Starbucks brand,” concluded Johnson.įull details on Starbucks financial results can be found here. and will propagate in every market around the world, where people once again connect with others face-to-face to heal, to belong, to reflect, to share and to celebrate. “We have positioned Starbucks for the inevitable great human reconnection that we see unfolding in the U.S. Our strong results validate our ability to adapt to changes in our environment and the needs of our customers,” said Kevin Johnson, president and ceo. “I am very pleased with our progress to date in fiscal 2021, as our second quarter results demonstrated impressive momentum in the business with full sales recovery in the U.S. While the COVID-19 pandemic is not over, this momentum gives the company confidence to raise full year guidance for the remainder of FY21. Starbucks today announced its Q2 FY21 earnings results, demonstrating full sales recovery in the U.S and forward momentum globally. ![]()
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