Channel NewsAsia
Channel NewsAsia
AsiaPac · 1 hrs ago

Starbucks Korea swings to Q2 operating loss after marketing backlash

SEOUL, Aug 13 : The operator of Starbucks Korea posted an operating loss in the second quarter as sales fell after backlash over a marketing campaign that evoked a brutal 1980 military crackdown on pro-democracy protesters, and the suspension of its flagship summer promotion. Here are some details:• Starbucks Korea's operator SCK Company swung to an 18.4 billion won ($13.4 million) operating loss in the second quarter from an operating profit of 40.3 billion won a year earlier and 29.3 billion won in the preceding quarter.• E-Mart, the parent of SCK, said in an earnings announcement on Thursday that SCK did not hold its usual summer promotional campaign in June. • In May, Starbucks Korea halted and apologised for its May 18 "Tank Day" tumbler campaign after it drew criticism for evoking th
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