Coffee Lovers rejoice!
Starbucks says they plan to start reopening many of its company-owned locations with modifications starting Monday amid the COVID-19 pandemic.
In the U.S., Starbucks has temporarily closed half its 8,000 company-owned stores. The company plans to have 90% of its locations reopened by early June.
The company said locations will be offering pick-up only and curbside orders to follow social distancing guidelines set by the CDC.
Starbucks says its global sales tumbled in the first three months of the year as coronavirus-related shutdowns gripped its operations.
The Seattle-based coffee giant said conditions will likely worsen in the current quarter before moderating later this summer, and its recovery will extend into 2021.
But executives also said they are seeing encouraging signs.
Starbucks said 98% of its stores in China have reopened and sales are improving.
Starbucks' revenue fell 5% to $6 billion in its fiscal second quarter. That beat analysts' estimate of $5.9 billion, according to FactSet.
WLS contributed to this report.