Starbucks Closes Half of Its Locations in China Amidst Coronavirus Fears

By Jeremy Del Nero on 29 January 2020
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Starbucks announced it had temporarily closed over half of its locations in China, as concerns over the growing number of coronavirus cases grew.

China is the coffee shop company’s second largest market, with over 4,100 locations there.

“As events unfold, we will be transparent with all stakeholders in communicating how we are responding to these extraordinary circumstances and the implications for our near-term business results,” said Kevin Johnson, the company’s CEO, in a statement.

The company, however, said it was not turning its back on China.

“We remain optimistic and committed to the long-term opportunity in China, building on our brand heritage and 20-year legacy of profitable growth,” Johnson added.

(Photo: Accura Media Group)

Accura News

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