Wednesday, February 28, 2024
HomeBusinessStarbucks CEO sees rebound in markets where vaccinations are up

Starbucks CEO sees rebound in markets where vaccinations are up

Date:

Related stories

Exploring the Connectivity of The Continuum In Singapore

Have you ever imagined stepping out of your house...

How Important Is a Savings Account for Students?

In the financial maturity process, the important component for...

Techberry Review: The Future of Financial Markets

The financial markets of today are more complex and...

Unlocking the Power of Tableau: Developer Certification and Training Insights

As we progress with technological advancements, proficiency with tools...

Is Carrie Underwood pregnant again? Know details

Is Carrie Underwood pregnant? If are you curious to...


Starbucks is seeing big upticks in business in places where vaccinations are on the rise, CEO Kevin Johnson said Thursday.

“Consumer mobility shot through the roof and … we started seeing traffic increasing in our stores,” Johnson told CNBC’s Jim Cramer in a “Mad Money” interview. He also said that Starbucks’ same-store sales are surpassing pre-pandemic levels in regions where consumers are being vaccinated.

The relation between higher business activity and increasing vaccination rates is simple, Johnson said. The company found that when at least 35% or more of adults were vaccinated against the virus in a market, governments begin easing Covid restrictions, making way for business to rebound.

Johnson added the U.S. is acting as a bellwether for global markets as countries inoculate citizens against Covid-19 and roll back health restrictions.

“We now see that happening in Mexico, we’re starting to see that happen in Europe,” he added. “Every market around the world is going to see exactly what the United States has experienced here over the last 90 days.”

Seattle-based Starbucks has a presence in 80 countries and draws the majority of its revenues in the U.S.



Source link

See also  E-commerce exploitation through e-retailers' unethical practices forced lakhs of shops to close: CAIT
Bellie Brown
Bellie Brownhttps://businesstimes.org
Hi my lovely readers, I am Bellie brown editor and writer of Businesstimes.org. I write blogs on various niches such as business, technology, lifestyle., health, entertainment, etc as well as manage the daily reports of the website. I am very addicted to my work which makes me keen on reading and writing on the very latest and trending topics. One can check my more writings by visiting Cleartips.net

Latest stories