China’s Covid-19 Lockdowns Hurt Sales of Starbucks Coffee, Adidas Sneakers

China’s strict Covid-19 shutdown is hurting consumer spending on everything from coffee to sneakers and hotels, weighing heavily on multinationals with a presence growth in the country and reduce the post-pandemic outbreak experienced by other parts of the world.

Starbucks Adidas AG and InterContinental Hotels Group PLC is one of the companies that has reported a significant drop in China-generated revenue as consumers stay at home or tighten their belts as the economy weakens.

https://www.wsj.com/articles/chinas-covid-19-lockdowns-hurt-sales-of-starbucks-coffee-adidas-sneakers-11653476495?mod=pls_whats_news_us_business_f China’s Covid-19 Lockdowns Hurt Sales of Starbucks Coffee, Adidas Sneakers

Edmund DeMarche

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