Why Starbucks Shares Are Gaining After Its Conference Presentation
During a Las Vegas restaurant and casino industry conference today, Starbucks Corporation (NASDAQ: SBUX) made an investor presentation revealing improving trends in both the U.S. and China. While comparable sales, or comps, still suffered year-over-year declines because of COVID-19, TheStreet reports, Starbucks' Chinese business is nearly back to normal -- fresh, piping-hot upbeat news prompting investors to bid the coffee chain's shares up 1.25% by market close. At the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Forum this morning, Starbucks' executives presented a slide deck showing sequential improvement in U.S. comps during the summer months.
