The u.s. company also expects that revenue from its coffee shops to remain low for the rest of the year, despite the fact that a great majority has already reopened, as reported in a written submission to the regulator on the stock market.
Starbucks indicated that 95% of the approximately 8,000 facilities that it manages directly -not franchises – in the united States are currently operating, with different types of service, in some cases only with products to carry.
In the whole of the year, the company expects sales in its two main markets, the united States and China to fall between 10% and 20%.
In addition to closing some 400 cafes during the coming 18 months, the company with headquarters in Seattle, Washington, U.S.) will open only about 300 new in the current fiscal year, approximately half of which had initially planned.
As a result of the COVID-19, Starbucks is going to bet also in the shops only for collection of orders, particularly in urban areas like New York, San Francisco or Chicago.
In addition, it will reform many of its institutions, considering that, because of the pandemic, the customers are going to want to spend less time there and prefer more facilities to buy their coffee to take away.
“The shops have always been known as the ‘third place’, a cosy place outside of home and work where we connect around a cup of coffee”, explained the ceo, Kevin Johnson, in a statement.
“As we navigate the crisis of the COVID-19, we are accelerating our plans for transformation of institutions to respond to the realities of the current situation, at the same time that we continue to offer a safe experience, familiar, and useful to our customers,” he added.
Following the announcement, shares of Starbucks were clear losses on Wall Street and closed with a decline of somewhat more than 4 %.
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