China's Largest Coffee Chain Plans to Hit Starbucks in the US
Briefly

from 24/7 Wall St.3 months ago
Starbucks Corps. relied on rapid growth in China, but recent drops in same-store sales, primarily due to strong competition from Luckin Coffee, threaten this expansion plan.
24/7 Wall St.https://247wallst.com/companies-and-brands/2024/10/30/chinas-largest-coffee-chain-plans-to-hit-starbucks-in-the-us/
With same-store sales collapsing 14%, management pointed to a competitive environment, particularly from Luckin Coffee, which has now set its sights on entering the U.S. market.
24/7 Wall St.https://247wallst.com/companies-and-brands/2024/10/30/chinas-largest-coffee-chain-plans-to-hit-starbucks-in-the-us/
New CEO Brian Niccol acknowledged the challenges Starbucks faces, indicating that poor customer service and employee dissatisfaction need urgent attention as part of the 'Back to Starbucks' strategy.
24/7 Wall St.https://247wallst.com/companies-and-brands/2024/10/30/chinas-largest-coffee-chain-plans-to-hit-starbucks-in-the-us/
Luckin Coffee, with its substantial network in China, is emerging as a significant rival to Starbucks. As it prepares for U.S. market entry, competition dynamics are shifting.
24/7 Wall St.https://247wallst.com/companies-and-brands/2024/10/30/chinas-largest-coffee-chain-plans-to-hit-starbucks-in-the-us/
Read at 24/7 Wall St.
#starbucks #luckin-coffee #market-competition #sales-performance #corporate-strategy
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