Starbucks Corp’s outgoing Executive Chairman Howard Schultz said on Monday that a recent slowdown in China would be short-lived, seeking to salve investor concerns that the U.S. coffee chain is under pressure in the fast-growing market. Schultz also hinted at a potential tie-up with e-commerce giant Alibaba Group Holding Ltd’s billionaire founder Jack Ma, that could help rev up online coffee sales for the chain in China. Starbucks said last month China same-store sales would be flat to slightly negative in its second-biggest market in April-June, versus 7 percent growth a year earlier, triggering a sharp …read more
Source:: Yahoo Finance
