Starbucks responds to multibillion-dollar coronavirus hit with new summer drinks
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Starbucks brewed up a slate of summer drinks as it races to lure in customers after months of stifled business created by the pandemic.
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The Seattle-based coffee giant moved to expand its menu, offering up eight new drinks to customers nationwide. The coffeehouse chain has reopened 95 percent of company-operated stores under guidelines designed to curb the spread of COVID-19.
The revamped menu, which includes its nitro cold brew and iced passion tango tea, is available at Starbucks stores across the United States and for order with the company's app.
STARBUCKS TAKES $3 BILLION HIT TO REVENUE DURING PANDEMIC
The company is trying to drum up sales after the virus forced the company to close its stores to customers but continued to operate pick-up and other services in most locations.
Last month, the brewer projected that it would take a revenue hit between $3 billion and $3.2 billion for the three months ending in June because of the virus, according to a regulatory filing. During the same span of time, it also estimated that the pandemic would slash its operating income between $2 billion and $2.2 billion as the virus raged, the filing stated.