Starbucks’ recovery, solid in China, still slow in the US

Starbucks’ recovery slowed at the end of last year as U.S. coronavirus cases mounted. But the coffee titan says it’s confident its U.S. business will fully recover by March. The Seattle-based company said Tuesday that its sales at stores opened at least a year fell 5% in the October-December period. That was an improvement from the prior quarter, but still a bigger decline than Wall Street was expecting. Starbucks also fell short of revenue forecasts. The company reported sales of $6.7 billion in its fiscal first quarter. Starbucks said its business has fully recovered in China, but its U.S. business is still impacted by lower store traffic.