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Starbucks' Schultz urges investor support despite China concerns

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.Starbucks said last month China same-store sales would be flat to slightly negative in its second-biggest market in April-June, versus 7 percent growth a year earlier, triggering a sharp drop in the chain's share price.Schultz said fears of a slowdown were overblown and that "over time" the closely watched metric would be ...

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First Published: Mon, July 09 2018. 10:43 IST
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