Coffee chain Starbucks China and Luckin both experienced a double-digit decline in same-store sales in the June quarter of 14% and 20.9% respectively, sending a signal that consumption headwinds and intensified competition are still dampening the brands’ earnings. Laxman Narasimhan, CEO of US-headquartered Starbucks said China is “one of our most notable international challenges,” citing[…[…
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