•   
  •   
  •   

Money Starbucks says aims to triple China revenue by 2022

23:02  16 may  2018
23:02  16 may  2018 Source:   reuters.com

Boston Bruins, Calgary Flames to play two pre-season games in China

  Boston Bruins, Calgary Flames to play two pre-season games in China The NHL has made it official that it will return to China for two more pre-season games in September. The Flames and Bruins will clash Sept. 15 in Shenzhen and Sept. 19 in Beijing.

Starbucks Corp is looking to more than triple its revenue and almost double its store count in China over the next five years, doubling The U.S. coffee chain, which recently raised .15 billion in a deal with Nestle SA (NESN.S), aims to have 6,000 stores in the country by the end of 2022 , it said in a

Starbucks Corp (SBUX.O) is looking to more than triple its revenue and almost double its store count in China over the next five years, doubling down on the market as traffic growth comes under pressure in the United States. It has around 3,300 stores in 141 cities in China currently. Starbucks dominates.

A cup of Starbucks coffee sits on a table in a cafe in central Hong Kong© REUTERS/Joel Boh/File Photo A cup of Starbucks coffee sits on a table in a cafe in central Hong Kong Starbucks Corp (SBUX.O) is looking to more than triple its revenue and almost double its store count in China over the next five years, doubling down on the market as traffic growth comes under pressure in the United States.

The U.S. coffee chain, which recently raised $7.15 billion in a deal with Nestle SA (NESN.S), aims to have 6,000 stores in the country by the end of 2022, it said in a statement. It has around 3,300 stores in 141 cities in China currently.

Quotes in the article

Starbucks Corp

SBUX

Starbucks Canada to close stores for afternoon

  Starbucks Canada to close stores for afternoon Starbucks will close all its Canadian company-operated stores and offices for an afternoon next month to provide training about creating a "culture of warmth and belonging."The announcement comes nearly a month after the Seattle-based company publicly apologized for the arrest of two black men who had been refused permission to use the washroom of a Starbucks coffee shop in Philadelphia.

Starbucks Corp (SBUX.O) is looking to more than triple its revenue and almost double its store count in China over the next five years, doubling down on the market as traffic growth comes under pressure in the United States. It has around 3,300 stores in 141 cities in China currently. Starbucks dominates.

This month Starbucks struck a deal with Nestle, the world's largest food and beverage company, to give the Swiss firm exclusive rights to sell Starbucks ' packaged coffees and teas around the world.

57.15
+0.47
+0.83%
Nestle SA

NSRGF

76.74
+0.17
+0.22%
S&P/TSX Composite

0000

16,111.74
+13.93
+0.09%
S&P/TSX Venture Composite

ISPVX

780.00
-1.03
-0.13%

Starbucks dominates China's coffee scene, although it is seeing more competition from smaller rivals, similar to how it is coming under pressure from a "third wave" of boutique coffee sellers and cheaper rivals in the United States.

Late last year it launched its first overseas "Reserve Roastery" - an opulent flagship store with gourmet coffees and a bakery - in Shanghai, where executive chairman Howard Schultz told Reuters store numbers in China would hit 10,000 within a decade, overtaking even the U.S. market.

Starbucks also said it expects to more than double its operating income in China over the next 5 years, relative to 2017.

Starbucks Canada to close for race training

  Starbucks Canada to close for race training TORONTO - Starbucks stores and offices across Canada will close for part of an afternoon next month to provide training about creating a "culture of warmth and belonging." SBUX

Starbucks also said it expects to more than double its operating income in China over the next 5 years, relative to 2017. It made .24 billion in China /Asia Pacific revenue in the past financial year while operating income was 4.8 million, according to calculations by Reuters.

Starbucks also said it expects to more than double its operating income in China over the next 5 years, relative to 2017. It made .24 billion in China /Asia Pacific revenue in the past financial year while operating income was 4.8 million, according to calculations by Reuters.

It made $3.24 billion in China/Asia Pacific revenue in the past financial year while operating income was $764.8 million, according to calculations by Reuters. A breakdown for China alone was not immediately available.

This month Starbucks struck a deal with Nestle, the world's largest food and beverage company, to give the Swiss firm exclusive rights to sell Starbucks' packaged coffees and teas around the world.

Starbucks said the alliance with Nestle would help further extend the coffee chain's reach and scale throughout China.

"Starbucks will look to leverage the recently announced global coffee alliance with Nestle to provide even more at-home options to the Chinese consumer in the future," it added.

(Reporting by Adam Jourdan; Editing by Edwina Gibbs)

New Starbucks policy: No purchase needed to sit in cafes .
Starbucks announced a new policy Saturday that allows anyone to sit in its cafes or use its restrooms, even if they don't buy anything. SBUX

—   Share news in the SOC. Networks

Topical videos:

This is interesting!