Other companies are feeling the heat in China's slowing market
A woman walks past a shopping mall in Shanghai. Photo: Johannes Eisele/AFP/Getty Images
While Apple grabbed headlines after the tech giant warned of a revenue miss thanks to the Chinese market, they're not the only company facing the consequences of China's economic slowdown and its ongoing trade war with the U.S., Bloomberg reports.
The big picture: From coffee suppliers to delivery giants, major corporations are struggling to sell in the world's second-largest economy. FedEx cited trade tensions between the U.S. and China as a primary culprit in pulling back its profit estimates in late December. And, despite Starbucks' rapid expansion in China, the company said long-term sales growth there could be as low as 1% — compared to 3% to 4% in the U.S.