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Starbucks Extends Gain After Reporting Positive July Sales

  • Chain sees pandemic impact moderating in the current quarter
  • Company is moving to offer more pickup and delivery options
A customer wearing a protective mask leaves a Starbucks in Brooklyn, New York.

A customer wearing a protective mask leaves a Starbucks in Brooklyn, New York.

Photographer: Gabby Jones/Bloomberg
Updated on

Starbucks Corp. Chief Executive Officer Kevin Johnson said a key measure of sales turned positive in July -- a sign that the coffee giant’s recovery from Covid-19 lockdowns is gaining steam. The shares extended gains in late trading.

“Our recovery strategy is working,” Johnson said during a call with analysts following the release of the company’s quarterly results.