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Starbucks reports 2% China comparable sales decline amid store expansion

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In quarterly results for the period ended July 1, Starbucks said comparable store sales in China fell 2% year over year, despite its push to expand rapidly, aiming for 6,000 stores by 2022—about double today’s count. The company suggested the decline may reflect sales cannibalization from new outlets and added pressure from Luckin Coffee’s delivery-led, discount-heavy growth.

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