Outgoing Starbucks chief talks positive on China, hints at Alibaba tie-up

Starbucks Corp's outgoing Executive Chairman Howard Schultz said on Monday that a recent slowdown in China would be short-lived, seeking to assuage investor concerns that the US coffee chain is under pressure in the fast-growing market.

Schultz also hinted at a potential tie-up with e-commerce giant Alibaba Group Holding Ltd's billionaire founder Jack Ma, that could help rev up online coffee sales for the chain in China.

Starbucks said last month China same-store sales would be flat to slightly negative in its second-biggest market in April-June, versus 7 per cent growth a year earlier, triggering a sharp drop in the chain's share