Starbucks Jumps 6% After Showing Signs Its Recovery From Coronavirus Lockdowns Is Picking Up (SBUX)

From: markets.businessinsider.com

Shares of Starbucks jumped as much as 6% in premarket trading Wednesday after the company’s July sales showed signs that the company’s recovery from the coronavirus pandemic lockdowns is picking up.

On a call with analysts Tuesday, Starbucks CEO Kevin Johnson said that comparable sales for open stores turned positive in July, indicating that the company’s strategy to weather the pandemic is working and fueling hopes that the worst of the lockdown is over.

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