SBUX
-0.61%
Following the publication of its first-quarter earnings report, Starbucks (SBUX) witnessed a slight dip in its share prices. The earnings report fell short of expectations for same-store sales in China, with sales at Chinese locations increasing by 10%, lower than the anticipated 16% growth predicted by analysts.
Moreover, there was a 9% year-over-year decrease in the average ticket size in China. Starbucks attributed this decline to changing consumer behavior in the Chinese market, where customers have become increasingly price-conscious due to economic downturns.
