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Starbucks feels inflation heat; revenue grows at 2% in Q2
The New Indian Express
|October 21, 2024
TATA Starbucks, a joint venture between Starbucks Coffee Company and Tata Consumer Products Limited, is facing the pinch of sluggish consumer spending in urban areas as revenue growth remained underwhelming in the current financial year.
Starbucks revenue in the September quarter grew at a subdued rate of 2%, which the company attributes to the overall slowness in the QSR segment. The revenue growth was 4% in the previous quarter. In the previous financial year (2023-24), Starbucks had posted a revenue growth of 12% at ₹1,218 crore. Starbucks accounts for around 8% of Tata Consumer Products' consolidated revenue.
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