Starbucks to Reopen 85% of U.S. Stores This Week; Fitch Cuts Rating to BBB

Starbucks Corp. (SBUX) said it will reopen 85% of its U.S. stores by the end of this week after seven weeks of home-sheltering orders put in place to contain the spread of the coronavirus pandemic.By early June, the U.S. coffee chain expects more than 90% of its stores to be open under modified operations and hours. On March 22, Starbucks had shut down its U.S. and Canadian cafes due to the coronavirus-related lockdown regulations.“We have embraced an approach of monitoring, rapidly adapting to, and even shaping, the “now normal”, Starbucks CEO Kevin Johnson wrote in a letter to employees. “The …read more

Source:: Yahoo Finance

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