Aman33
2023-02-21

👍
@AndreaClarissa：
$Starbucks(SBUX)$ now views the back half of 2023 as the time for a full recovery in China; where they have built ~2,000 stores since the pandemic without meaningful gains in revenue. This surely has to be a pretty tightly wound spring. Recovery might be explosive. There is indeed a long runway in China for this market. It is also important to put the number of store openings in context with the competitive landscape in this space: Luckin Coffee$Luckin Coffee Inc.(LKNCY)$ has added circa 600 net new stores each quarter so far in 2022.
$Starbucks(SBUX)$ now views the back half of 2023 as the time for a full recovery in China; where they have built ~2,000 stores since the pandemic without meaningful gains in revenue. This surely has to be a pretty tightly wound spring. Recovery might be explosive. There is indeed a long runway in China for this market. It is also important to put the number of store openings in context with the competitive landscape in this space: Luckin Coffee$Luckin Coffee Inc.(LKNCY)$ has added circa 600 net new stores each quarter so far in 2022.

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