Starbucks: plans to step up growth in China; shares rise
(CercleFinance.com) - Starbucks said on Wednesday that it aims to open 600 stores per year in China, accelerating its growth in the country.
At its first-ever investor conference in China, the world's largest coffee chain said that it plans to double its number of stores in the country to 6,000 across 230 cities over the next five years.
Starbucks currently operates approximately 3,300 stores in 141 Chinese cities and has around 45,000 employees in the country.
The company also announced plans to more than triple revenue and more than double operating income in China by the end of fiscal year 2022.
Starbucks shares were up 1.1% after these announcements.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
At its first-ever investor conference in China, the world's largest coffee chain said that it plans to double its number of stores in the country to 6,000 across 230 cities over the next five years.
Starbucks currently operates approximately 3,300 stores in 141 Chinese cities and has around 45,000 employees in the country.
The company also announced plans to more than triple revenue and more than double operating income in China by the end of fiscal year 2022.
Starbucks shares were up 1.1% after these announcements.
Copyright (c) 2018 CercleFinance.com. All rights reserved.