China’s Covid-19 Lockdowns Hurt Sales of Starbucks Coffee, Adidas Sneakers
Share this @internewscast.com



China’s strict Covid-19 lockdowns are hurting consumer spending for everything from coffee to sneakers and hotels, weighing on multinationals with a big presence in the country and blunting the post-pandemic rebound that other parts of the world have experienced.

Starbucks Adidas AG and InterContinental Hotels Group PLC are among companies that reported significant declines in their China-generated revenue as consumers stayed home or are tightening their belts as the economy weakens.

Share this @internewscast.com
You May Also Like

Palestinian Reporter ‘Likely’ Killed By Israeli Gunfire, U.S. Says—But Review Inconclusive

Topline A U.S.-overseen investigation “could not reach a definitive conclusion” on who…

Bloomberg analyst tips bullish BTC recovery in next six months

Bloomberg’s senior commodity strategist Mike McGlone is tipping that the price of…

The Value In Value

“One damned thing after another” was Churchill’s concise (though perhaps misattributed) definition…

These Tech Stocks Can Be A Defensive Bet In An Uncertain Economy

GERMANY – 2022/06/14: In this photo illustration Dell logo seen displayed on…

7 Tips for Making Quality Business Decisions

Opinions expressed by Entrepreneur contributors are their own. Unfortunately, decision-making can be…

Sun Cable Taps Macquarie, Moelis To Raise $21 Billion To Fund World’s Longest Undersea Power Cable

Solar panel on dramatic sunset sky background, Alternative energy concept getty Sun…

Who owns the most Bitcoin in 2022?

One of the main features of the Bitcoin blockchain is its transparency.…

Lamborghini-backed GT racing team to authenticate car parts using NFTs

Vincenzo Sospiri Racing (VSR), a GT racing team backed by Lamborghini’s motorsport…