HONG KONG -- Starbucks' abrupt replacement of its CEO has sent shock waves through the industry and stock market, with its new chief inheriting a host of challenges -- one of the biggest being a deep slump in China.
Food & Beverage
Starbucks' new CEO Brian Niccol inherits a China headache
Cafe chain faces sliding sales in No. 2 market as consumers turn thriftier
A Starbucks cafe in Shanghai. The chain's comparable store sales in China plunged 14% on the year in the April-June period. (Photo by Kosaku Mimura)
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