Starbucks Lost $1 Billion in Sales but 25 Percent of Orders Now Come From Mobile App

When the pandemic hit, businesses immediately felt the pain as many had to shut their doors. Even the ones that were able to stay open had to quickly figure out how to make drastic changes to the way they served their customers and protected their employees from the spread of Covid-19.

Restaurants and coffee shops remained open, but in many cases, only for take-out or drive-thru service. Remarkably, many have managed to keep going, but only after a very harsh reality check. Starbucks, for example, says it lost about $1.2 billion in sales due to limited operations, reduced hours, and even closures. 

Still, the company reported its quarterly earnings last week and managed to exceed expectations largely due to a decision it made years ago. Analysts had expected Starbucks to earn $6.06 billion, but despite the decrease in customer traffic due to the pandemic, the company’s generated $6.2 billion for

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Photo of Starbucks Holiday At-Home Portrait Series with Nate Berkus Available on Business Wire’s Website and the Associated Press Photo Network

Press release content from Business Wire. The AP news staff was not involved in its creation.

–(BUSINESS WIRE)–Oct 20, 2020–

A photo is available on Business Wire’s website and the Associated Press Photo Network of Nate Berkus teamed up with Starbucks for the Holiday At-Home Portrait Series, featuring DIY holiday portraits from families across the country that capture what matters most this year: the little moments that bring the biggest joy.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201020005327/en/

Nate Berkus teamed up with Starbucks for the Holiday At-Home Portrait Series, featuring DIY holiday portraits from families across the country that capture what matters most this year: the little moments that bring the biggest joy. Photo Credit: Ashley Burns Photography for Starbucks

View source version on businesswire.com:https://www.businesswire.com/news/home/20201020005327/en/

CONTACT: Starbucks Coffee Company

[email protected]

206-318-7100

KEYWORD: WASHINGTON UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY ENTERTAINMENT

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