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Starbucks' departing chairman backs China prospects, hints at Jack Ma tie-up

Reuters  |  SHANGHAI 

By Adam JourdanSHANGHAI (Reuters) - Starbucks Corp's outgoing Executive Chairman Howard Schultz said on Monday that a recent slowdown in China would be short-lived, seeking to salve investor concerns that the U.S. 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 ...

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First Published: Mon, July 09 2018. 18:58 IST