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Starbucks says it sees better times ahead as stores reopen

 


Starbucks' revenue shrank 38% in its most recent quarter but the coffee giant says it's recovering faster than expected as its stores reopen from coronavirus lockdowns.

The Seattle-based company said Tuesday that it expects coronavirus-related losses to ease through the rest of this year.

"We believe the worst is behind us," Chief Financial Officer Patrick Grismer said.

Starbucks said 97% of its company-operated stores around the world are now open, including 99% of stores in China and 96% in the U.S. However, some franchised locations remain closed, especially at airports and on college ca...



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