Starbucks Scales Back Shareholder Meeting

By Heather Haddon

Starbucks Corp. said it is canceling its in-person annual shareholder's meeting in Seattle March 18 due to the coronavirus outbreak.

"In light of public health concerns regarding the coronavirus outbreak, the Annual Meeting will be held in a virtual meeting format only," the Seattle-based coffee chain says in a filing.

Starbucks' shareholder's meeting is typically a big company event, with a series of announcements and performances. The chain temporarily closed more than 2,000 of its stores in China due to the coronavirus, and has said that it expects the virus to weigh on its business this year.

Coronavirus has hit Seattle as it has crossed into the U.S., with a number of deaths in surrounding King County. An Amazon Inc. worker in Seattle has tested positive for coronavirus.

Write to Heather Haddon at heather.haddon@wsj.com

(END) Dow Jones Newswires

March 04, 2020 10:32 ET (15:32 GMT)

Starbucks (NASDAQ:SBUX)
Historical Stock Chart
From Jun 2024 to Jul 2024