(CNN) — This past weekend Starbucks announced that it would be closing shops and suspending services to its stores located in the City of Wuhan and across Hubei Province due to the spread of novel-coronavirus.
As of Tuesday morning, Starbucks had closed nearly half of its 4,300 Chinese stores.
The company said that it is continuing to “monitor and modify the operating hours of all of our stores in the market” in light of the outbreak.
Starbucks’ CEO promised transparency as to the company’s response to the “extraordinary circumstances.”
It is still not clear what the extent of the impact of the coronavirus will be on businesses in and around China.
Starbucks, however, does expect to take a hit in the second quarter of this fiscal year.