Starbucks CEO: ‘We will win in China’

From fastcasual.com

Starbucks CEO Kevin Johnson is confident that his growth strategy is working, and that includes his plans for the U.S. as well as China, where the coffee start-up, Luckin, has been gaining ground since launching last year. Although the emerging coffee brand already has 2,300 units across the country, its popularity didn’t stop Starbucks China’s comparable store sales from increasing 3% during Q2. Starbucks Corporation, which posted financials Thursday for its 13-week fiscal second quarter ending March 31, also reported that overall global comparable store sales were up 3% as well.

“Starbucks delivered another quarter of solid operating results, demonstrating that our ‘Growth at Scale’ agenda is working,” Johnson told investors during the Thursday earnings call. “We are especially pleased with our comparable store sales growth in our two lead markets, the U.S. and China, where we are also continuing to drive strong new store development with industry-leading returns. With solid first-half financial results, we are on track to deliver on our full-year commitments.”

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