Starbucks falls short of sales projections due to COVID limits in China

Tuesday saw Starbucks Corp delay its fiscal year-end estimate after sales growth fell short of Wall Street expectations as a result of China's strict COVID-19 rules. Comparable sales in China, where the chain has swiftly grown recently to capitalize on surging coffee consumption, fell by 23%, overshadowing a 12% increase in North America. Most international businesses with a sizable presence in the Chinese market have seen operations turned upside down as a result of China's stringent lockdown measures to implement its zero-COVID policy, including Apple, Gucci's parent company Kering, and Yum China, which owns Taco Bell. "Demand and revenue are…