(AOF) – Starbucks, whose title fell 2.5% before the opening, reported a drop in quarterly sales in China. In this country, which represents the company’s second largest market, same-store sales, a key indicator in the distribution sector, plunged 29% due to health restrictions linked to Covid-19. Meanwhile, the company reported global same-store sales for the quarter up 5%.
Starbucks posted record quarterly revenue at the end of 2022 thanks in particular to higher prices for its drinks and snacks, but the fall in sales in China weighed on its results.
Overall, the group posted revenue of $8.7 billion in the period from October to December, the first quarter of its staggered year.
This is a level never reached before and up 8% compared to the previous year, but this performance is below analysts’ expectations.
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World tourism still on the rise
Over the first nine months of 2022, 700 million tourists traveled internationally, more than double (+133%) the figure recorded for the same period in 2021. This figure reached 63% of 2019 levels , which should allow the sector to reach 65% of its pre-pandemic levels in 2022. This result is due to a strong level of demand and the gradual lifting of restrictions in a large number of countries. Europe is significantly supporting this rebound with the arrival of 477 million people between January and September 2022 (68% of the global total), reaching 81% of the pre-covid level. Tourism there is driven by strong intra-regional demand and travel from the United States. Some destinations recorded notable increases in receipts, including Serbia, Romania, Turkey, Latvia, Portugal, Pakistan, Mexico, Morocco and France.