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Starbucks Says Business Is On The Upswing After Dismal Quarter

Starbucks reports its business is “steadily recovering” worldwide, as most of its stores have reopened with the easing of pandemic-related restrictions. The coffee chain reported a 40% decrease in global same-store sales driven by a 51% drop in traffic during a challenging third quarter marred by COVID-19 shut downs. “The disappointing quarter — accentuated by café closures and a significant decrease in daily commuters — was offset by a 23% increase in ticket growth,” per Nation’s Restaurant News.

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