A fast-changing Chinese coffee market awaits Starbucks CEO Brian Niccol
Publishing timestamp: 2024-11-01 09:10:35
Summary
Starbucks is facing challenges in China as same-store sales plummet, but CEO plans to visit to understand the market. Local upstarts like Luckin Coffee offer lower prices, but Starbucks still has advantages. Chinese chains offer unique coffee options and lower prices, while Starbucks remains a go-to spot for hanging out with friends or business contacts.
Sentiment: MIXED
Tickers: SBUX, YUM, QSR-CA, QSR, MCD,
Keywords: starbucks corp, business news, restaurant brands international inc, food and drink, retail industry, brian niccol, lifestyle, china, breaking news: business, mcdonald's corp, yum! brands inc,
Source: https://www.cnbc.com/2024/11/01/chinese-coffee-market-starbucks-ceo-brian-niccol.html