Don't Worry about China's Zero Covid Policy
The key is on how the policy is defined and executed
“Shanghai, our largest market with more than 940 stores, was completely locked down for approximately two-thirds of the quarter... Covid-related headwinds in Q3 (June 2022) resulted in Starbucks net revenue in China declining 40% and sales comp declining 44% versus last year.” Belinda Wong, Chairman of Starbucks China
“Transportation and logistics issues…
Keep reading with a 7-day free trial
Subscribe to Daily Reflection on China to keep reading this post and get 7 days of free access to the full post archives.