Starbucks CEO Says Recovery Unfolded Faster Than Anticipated

The transcript discusses Starbucks' recovery from the COVID-19 pandemic, highlighting faster-than-expected progress and the implementation of new store protocols. It covers future projections, the shift towards drive-thru and digital ordering, and the impact of work-from-home trends. The discussion also includes Starbucks' growth strategy in China, partner engagement, and the influence of US economic factors like elections and stimulus on the business.

How did Starbucks' sales figures change from April to September during the pandemic?

• From -50% to 0%

• From -70% to -10%

• From -65% to -4%

• From -60% to -5%

What has been a significant trend in Starbucks' customer orders during the pandemic?

• Increase in single beverage orders

• Decrease in food attachments

• Rise in group orders

• Decline in mobile orders

How has remote work affected Starbucks' sales patterns?

• Shift from early mornings to mid-mornings

• More frequent office coffee runs

• Increased sales in central business districts

• Decrease in suburban store visits

What is Starbucks' strategy for store openings in China?

• Reducing the number of new stores

• Only opening stores in rural areas

• Opening traditional stores with a digital focus

• Focusing only on drive-thru stores

How did Starbucks support its partners during the pandemic?

• By offering unpaid leave

• By closing all stores permanently

• By providing economic certainty regardless of work attendance

• By reducing their working hours

What is Starbucks' outlook on the future despite the pandemic?

• Optimistic about recovery and growth

• Neutral about future prospects

• Pessimistic about recovery

• Uncertain about future strategies

What role does Starbucks believe government stimulus plays for small businesses?

• It is unnecessary

• It is crucial for their survival

• It only benefits large corporations

• It has no impact on the economy