Starbucks shutters half its China stores, warns of hit from virus

Starbucks Corp has become the first large United States company to warn of a financial hit from the new coronavirus outbreak in China, as it closed thousands of restaurants and adjusted operating hours in its biggest growth market.

The world’s largest coffee chain delayed a planned update – based on strong quarterly earnings results – to its 2020 financial forecast because of the outbreak, which has caused more than 100 deaths and nearly 6,000 confirmed cases in China.