Starbucks: Performance Pays the Price for Management's Illusions
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In the second quarter financial report released in early May, Starbucks reported that its same-store sales in China, its second-largest market, fell by 11%, prompting Starbucks to lower its full-year sales forecast.
"We are not interested in price wars," said Starbucks founder Howard Schultz during his visit to Shanghai in March. "We are focused on achieving high-quality, profitable, sustainable growth."
"We are not interested in price wars," said Starbucks founder Howard Schultz during his visit to Shanghai in March. "We are focused on achieving high-quality, profitable, sustainable growth."
Luckin Coffee's large latte is priced at 29 yuan ($4.00), which is nearly the same as Starbucks' latte price (33 yuan). However, Luckin frequently offers a plethora of coupons, often bringing the price of their latte down to 9.9 yuan.Other competitors' products are even cheaper.
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