Starbucks CEO Says China Recovery Will Be Choppy, But It Is Normalizing At Half The Pace Than What You Would Think It Would; Demand Growth Next Year Will Be More Back-End Loaded
Portfolio Pulse from Benzinga Newsdesk
Starbucks CEO commented at the Morgan Stanley Conference that the recovery in China will be choppy and is normalizing at a slower pace than expected. He also mentioned that demand growth in the next year is anticipated to be more concentrated towards the latter half.
December 05, 2023 | 6:25 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Starbucks CEO's comments suggest a slower recovery in China, which may affect the company's near-term revenue and growth expectations in this key market.
China is a significant market for Starbucks, and a slower-than-expected recovery could lead to reduced investor confidence and potential downward pressure on the stock price in the short term. The CEO's comments about demand growth being back-end loaded indicate that the company may not see a significant improvement until later next year, which could be a concern for short-term investors.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90