Starbucks reports a Q1 5% drop in same-store sales as company continues steady COVID-19 recovery effort

Starbucks’ performance is still on a long road to recovery, especially in its U.S. stores. The company reported in its earnings for the first quarter ended Dec. 27, 2020 that U.S. same-store sales had dropped 5% (an improvement from last quarter’s -9% same-store sales numbers). The company also reported positive same-store sales in China of 5% for the first time since the pandemic began. Starbucks CEO Kevin Johnson said that the company remains on track for a full recovery of their U.S.