Starbucks, the big coffee chain that has observed a major decline in its net income, is aiming to reopen its stores by June.
Starbucks, the big coffee chain that is slowly opening its restaurants in different parts of the world, is having a tough year compared to last year. Revenue in the 2nd quarter of 2020 fell 5% to $ 5.99 billion compared to last year, according to company data released Tuesday. Net income fell 50.5% to $328.4 compared to the previous year. The chain plans to open 90% of its stores in the U.S. in early June with open-air systems called Entryway handoffs, which allows people to take their order without entering the store, drive-thru, delivery and pick-up. While 50% of stores in the US have closed, 98% of stores in China have reopened. Coffee chain Starbucks says the segment will fully recover by the last quarter of this year.