Starbucks Corp reported quarterly comparable sales below Wall Street expectations on Tuesday, as tough COVID-19 curbs in China dented sales in the country and muddied its strong showing in the U.S. market.
China’s strict lockdown measures to meet its zero-COVID policy have upended operations of most global companies that have a significant presence in the Chinese market, including Apple, Gucci-parent Kering and Taco Bell-owner Yum China. Starbucks has raised wages for employees. Even so, more than 50 U.S. cafes have elected to join the Workers United union, while five stores voted against the union, out of roughly 240 altogether that have sought to hold elections since August.
How is that Covid Zero strategy working?
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