Starbucks Faces Uncertainty in China Despite Strong US Sales Growth

Starbucks expected to report strong US sales but China remains uncertain due to COVID lockdowns and economic slowdown

Revenue expected to increase 10.3% and adjusted EPS to jump 19.2% year-over-year

Pumpkin spice latte's 20th anniversary likely supported US traffic; plans to expand to 9,000 stores in China by 2024

China sales a "wild card" amid lockdowns, cheaper local competition, economic slowdown

Investors skeptical of Starbucks' ambitious Reinvention Plan goals due to uncertain consumer spending, ongoing labor shortage