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Starbucks COO Says Company's Business In China Will Be Bigger Than The US

Starbucks: China Will Be Bigger Than The US For Us SBUX

Shares of Starbucks Corporation SBUX 2.18% hit a 52-week low of $50.84 on Friday, but quickly rebounded higher by more than 3 percent after investors fully digested the company's earnings report and tuned in to what some Wall Street analysts have to say.

Starbucks' Chief Operating Officer Kevin Johnson was a guest on CNBC to talk about the company's outlook and answered an interesting question from Jim Cramer.

"Should we be assessing Starbucks much more as a Chinese growth story with good stability around the world?" Cramer asked.

The executive was quick to point out that Starbucks has been clear on its outlook in China. Specifically, the company believes one day its business in China will be larger than its business in the U.S.

"We have been committed to China for 17 years," Johnson said. "We now have over 2,400 stores in China with a commitment to get to 5,000 stores by the year 2021."

He also pointed out that during the recent quarter the company posted a 6 percent same-store sales gain in China.

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