Simon Gwynn
Jul 31, 2017

Starbucks ups investment in China after strong sales growth

Coffee empire to acquire the 50 percent of the China business it does not own from partners Uni-President Enterprises and President Chain Store.

Starbucks' new chief executive, Kevin Johnson, has credited innovation in products and store design for a 4 percent increase in global like-for-like sales in the 13 weeks ending 2 July.

The coffee chain's total revenues in the quarter were up 8 percent to $5.7 billion, with operating income up 2 percent to $1.04 billion.

Starbucks also announced it would take full ownership of its Chinese business after comparable sales there grew 7...

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