Tata Starbucks: Added 51 stores in last 12 months; recovery was good post 2nd COVID wave

India added 90,928 COVID cases in the last 24 hours, highest since June 11 whereas active cases were up by 71,397, highest since May 2021.

Amid this surge in infections, Sushant Dash, CEO of Tata Starbucks told CNBC-TV18 that they were witnessing good recovery post the second COVID wave but post the recent surge and restrictions they are seeing much lower footfalls.

"Recovery has been good post the second COVID wave. We reported a 128 percent increase in Q2FY22 and we continue to grow at similar rate if not slight faster in Q3. However things have changed over the last 10-days, there are more restrictions in place in terms of operating hours, seating capacity, weekend curfew etc and that has decreased the store index. We are also seeing much lower footfalls over the last 4-5 days in malls and airports."