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Starbucks sees hit as coronavirus prompts over 2,000 China store closures

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Starbucks sees hit as coronavirus prompts over 2,000 China store closures

Starbucks sees hit as coronavirus prompts over 2,000 China store closures (Reuters) - Starbucks Corp (SBUX.O) on Tuesday became the first major U.S. company to warn of a financial hit from the new coronavirus outbreak in China, as it closed thousands of restaurants and adjusted operating hours in its biggest growth market. The world’s largest coffee chain delayed a planned update - based on strong quarterly earnings results - to its 2020 financial forecast because of the outbreak, which has caused over 100 deaths and over 4,000 confirmed cases in China. Shares of the company, which operates 4,292 stores in...

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