Starbucks provides update on recovery in China, impact of COVID-19 on U.S. Business

Starbucks continues to navigate the evolving situation created by coronavirus (COVID-19) with the health and well-being of Starbucks partners and customers as our top priority.

Today, in an open stakeholder letter from CEO Kevin Johnson and CFO Pat Grismer filed as an 8-K, the company provided an update on business recovery in China, the impact COVID-19 has had on U.S. business and how it is well positioned financially to weather this crisis. The company remains optimistic in Starbucks resilience, and is confident it will emerge from this crisis stronger than before.

Letter Excerpt: “It is the responsibility of every business to care for its employees and communities during this time of great uncertainty, shared sacrifice and common cause. Through that lens, we will continue to make decisions with diligence and courage, informed by the latest information and guided by Starbucks Mission and Values. Starbucks store partners around the world continue to inspire us with their dedication to support one another and the communities they serve.”

Read the full letter: