Shares of the coffee giant rose 5% in after-hours trading.The"Siren" logo hangs outside a Starbucks Coffee shop.Sales were impacted due to China's tough COVID-19 curbs. Comparable sales in China declined 23%, overshadowing 12% growth in North America. Same-store sales rose 7% globally, topping estimates.
Starbucks suspended guidance for the remainder of its current fiscal year as uncertainty around its China market makes it difficult to predict earnings. "I remain convinced Starbucks' business in China will be eventually larger than our business in the U.S.," Chief Executive Officer Howard Schultz said in a call with investors.
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Beijing curbs public transport as COVID spreads in ChinaThe Chinese capital Beijing shut dozens of metro stations and bus routes on Wednesday in its campaign to stop the spread of COVID-19 and avoid the fate of Shanghai where millions of residents have been under strict lockdown for more than a month.
Source: Reuters - 🏆 2. / 97 Read more »
China is obsessed with disinfection against Covid. But is it causing more harm than good?Hazmat suit-clad workers spraying clouds of disinfectant over city streets, building fronts, park benches and even parcels have become a common sight in pandemic-era China. REALLY! Why now! This BS crap started there and now they want to be overly reactive. Gm.CNN they know its dangerous as they are the one who created it
Source: cnni - 🏆 326. / 59 Read more »
China Box Office Gets May Day Bounce, But Lockdowns Drag on ReleasesTheatrical box office in mainland China enjoyed a weekend bounce over the May Day holiday and a new market leader, despite a shortage of fresh titles and mounting cinema closures. Romantic comedy “… Because China has given the world the Chinese flu aka the corona virus fact
Source: Variety - 🏆 108. / 63 Read more »
The Navy Extracted a Jet Fighter from 12,400 Feet below the South China SeaBut the U.S. must probe even further to catch up with China’s access to the ocean’s deepest reaches “The loss of this aircraft was particularly dangerous because it was within the grasp of a nearby nation with significant deep-ocean prowess: China.” What was it doing there? So glad we can waste who knows how much money on something so ridiculous. It took everyone years to find the malaysia flight all working together but China can retrieve this jet with no info, sea drift ect? Fuck the poor and homeless am I right?
Source: sciam - 🏆 300. / 63 Read more »
China Social Media Bilibili Trims Revenue Forecast, Gets A Bump In Users Amid Lockdowns'The near-term financial impact of Covid-19 is rapidly evolving and difficult to predict'
Source: Forbes - 🏆 394. / 53 Read more »
China silences prominent market analyst as economic slump deepensChinese social media have shut down the accounts of a prominent market analyst who drew attention in recent weeks to the dramatic slowdown in the country's economy and the effects of government policy on the tech industry. Xijinping should be sanctioned by NATO, why is it not happening WHY UN This is the real face of China. They will always shut down, block and arrest people and groups who expose the reality of China to the outside world. They always want to paint a rosy picture of China.
Source: cnni - 🏆 326. / 59 Read more »