Why investors think Starbucks’ China business may be overvalued
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最新报道：Starbucks' China business is facing investor skepticism as analysts question its overvaluation amid slowing growth and rising competition. Despite being the company's second-largest market, same-store sales growth in China dropped to 4% last quarter, down from 11% a year earlier. Local rivals like Luckin Coffee are gaining market share with aggressive pricing and digital strategies. Starbucks plans to open 600 new stores in China this year, but some investors worry expansion may not translate to profitability. The stock's premium valuation—trading at 30 times forward earnings—reflects high expectations that may be difficult to meet given economic headwinds and changing consumer preferences.
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