Starbucks said 97% of its company-operated
stores around the world are now open,
including 99% of stores in China and 96% in
the U.S. However, some franchised locations
remain closed, especially at airports and on
college campuses.
The company ended its fiscal third quarter on
June 28 with 32,180 stores; a little less than half
of those are in the U.S.
Starbucks President and CEO Kevin Johnson said
quick pivots have helped increase sales. In the
U.S. — where 70% of its stores are still offering
no interior seating — the company introduced
curbside service. It proved so popular that by the
end of September as many as 1,000 locations
will offer curbside service.
U.S. same-store sales — or sales at locations
open at least a year — hit their low point in mid-
April, when they were down 65% compared to
the prior year. But by June, U.S. same-store sales
were down 16%.
Barring new virus surges or economic
disruptions, Starbucks said its U.S. same-store
sales could substantially recover by the end of
the company’s fiscal second quarter in March.
Similarly, Starbucks says it believes the
company’s same-store sales in China could
recover by the end of its fiscal first quarter in
December. Starbucks’ China same-store sales
were down 19% in the third quarter.
Starbucks said it expects global same-store sales
declines between 12% and 17% for its fiscal
fourth quarter and the full year.
Johnson said the virus is accelerating Starbucks’
move to pickup-only stores, where customers