Beyond earnings: Can Starbucks China keep pace with local competitors? | Following the yuan

With Starbucks China has made the expected recovery from the pandemic, it's uncertain whether the momentum will carry it through the cutthroat local competition.

If you read my last piece on 3 reasons why Starbucks China may not perform well, you may think I misjudged, as the coffee chain’s China sales largely rebounded from Q1’s dismal -29% in same store sales: Starbucks's Q2 earnings for 2023, which ended on April 2, beat expectations with improved China performance.

In a snapshot: Starbucks reported US$908 mi…