The Seattle-based company said that it expects coronavirus-related losses to ease through the rest of this year.
“We believe the worst is behind us,” Chief Financial Officer Patrick Grismer said.
Starbucks said 97% of its company-operated stores around the world are now open, including 99% of stores in China and 96% in the U.S. However, some franchised locations remain closed, especially at airports and on college campuses.
The company ended its fiscal third quarter on June 28 with 32,180 stores; a little less than half of those are in the U.S.
Starbucks President and CEO Kevin Johnson said quick pivots have helped increase sales. In the U.S. — where 70% of its stores are still offering no interior seating — the company introduced curbside service. It proved so popular that by the end of September as many as 1,000 locations will offer curbside service.
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