U.S. coffee chains face two-year recovery from covid sales hit

A barista pours milk into a cup while preparing a cappuccino during at a Starbucks Reserve Roastery in Chicago, Illinois, U.S., on Tuesday, Nov. 12, 2019. Foto: Bloomberg/Daniel Acker

U.S. coffee chains will take two years to fully recover from an $11.5-billion sales plunge that wiped out a quarter of their market in a year when covid-19 kept customers from cafes, according to market researcher Allegra Group.

The U.S. branded coffee chain segment, which is dominated by Starbucks Corp. and Inspire Brands's Dunkin' Donuts, saw sales plunge 24% to $36 billion in the past 12 months predominantly due to covid-19 disruptions, the London-based group said Monday in a report. The industry will return to pre-pandemic sales by 2023, Allegra said, adding that 65% of surveyed U.S. industry leaders say trading conditions will improve during the next 12 months...

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