Starbucks (SBUX) Considers Expanding China Business with Local Partnerships

Nov 21, 2024

Starbucks (SBUX, Financial) shares rose over 1% to $99.29. The company is reportedly in discussions with advisors to explore ways to expand its business in China, which may include selling a stake and bringing in local partners. A global spokesperson for Starbucks emphasized the company's commitment to its Chinese operations, employees, and long-term growth in the market. The spokesperson reiterated that Starbucks is taking time to gain deeper insights into its business operations and competitive landscape in China, as mentioned in the recent fourth-quarter earnings call.

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