Prospects are bleak for the entire UK economy, according to a report on financial stability published earlier this month from the Bank of England, which said the outlook for the country's economy had "deteriorated materially." The Paris-based Organization for Economic Cooperation and Development forecast in June that the UK economy was heading to stagnation, with zero GDP growth forecast for 2023.

That's a downbeat environment for businesses, especially those still recovering from the difficult pandemic years.

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For Starbucks (SBUX), coffee sales were hit when customers began working from home. As employees start making their way back to offices, the trend has turned around. Starbucks' UK sales improved significantly in the quarter ended April 3, Michael Conway, group president of international and channel development, said during a May analyst call.

"Traffic continues to come into Central London metro areas, and we are increasing drive-throughs in that market at a significant rate," he said.

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Starbucks had about 300 company-operated stores and roughly another 800 licensed locations in the United Kingdom as of October 2021. The coffee chain launched operations in the UK in 1998.

Prospects are bleak for the entire UK economy, according to a report on financial stability published earlier this month from the Bank of England, which said the outlook for the country's economy had "deteriorated materially." The Paris-based Organization for Economic Cooperation and Development forecast in June that the UK economy was heading to stagnation, with zero GDP growth forecast for 2023.

That's a downbeat environment for businesses, especially those still recovering from the difficult pandemic years.

*

For Starbucks (SBUX), coffee sales were hit when customers began working from home. As employees start making their way back to offices, the trend has turned around. Starbucks' UK sales improved significantly in the quarter ended April 3, Michael Conway, group president of international and channel development, said during a May analyst call.

"Traffic continues to come into Central London metro areas, and we are increasing drive-throughs in that market at a significant rate," he said.

*

Starbucks had about 300 company-operated stores and roughly another 800 licensed locations in the United Kingdom as of October 2021. The coffee chain launched operations in the UK in 1998.