Bank of America Global Research Restaurants Analyst Sara Senatore joins Yahoo Finance Live to discuss the inflation impacts on grocery and restaurant prices, restaurant stocks, and the outlook for the 2022 food industry.
BEIJING (Reuters) -Starbucks, which has seen sales slow in China due to COVID-19's fallout, is attempting to widen its reach in its second-biggest market globally by distributing its coffees through the country's dominant food delivery firm, Meituan. The U.S. coffee chain said on Tuesday it has entered into a partnership with Meituan that will allow its Chinese customers to order coffee delivery and make reservations at its stores via the super-app's platforms. The move comes as competition in the Chinese coffee market is intensifying, and is aimed at expanding the availability of Starbucks, which first begun food delivery services in the country in 2018 through an exclusive partnership with Alibaba Group's Ele.me arm, Meituan's main rival.
Yahoo Finance's Jared Blikre breaks down how December retail sales, consumer sentiment, and bank earnings are moving markets today.