A barista serves drinks in disposable cups at Starbucks on March 6, 2020 in London, Britain. REUTERS/Henry Nicholls
July 16 (Reuters) – Starbucks Corp is not in the process of formally selling its U.K. business, a company spokesman said in a statement, after The Times reported on Saturday that the coffee shop chain was exploring selling its U.K. business. read more
According to a Times report, Starbucks has not initiated a formal sale process for its UK business and continues to evaluate strategic options for its company-owned international operations.
The company faces rising costs and competition from the likes of Pret A Manger, Tim Hortons and Costa, the newspaper said.
Starbucks suspended its guidance for the rest of the fiscal year when it last reported quarterly profit in May, as sales growth fell short of Wall Street’s targets due to China’s tough COVID-19 curbs. read more
Starbucks, which has been dealing with recent unionization of its US workforce, is looking for a permanent CEO, while Howard Schultz will remain as interim CEO until the end of March. read more
Register now for FREE unlimited access to Reuters.com
Shivani Tanna reports from Bengaluru; Edited by Leslie Adler Read also : Deckers Brands appoints Anne Spangenberg as President of Fashion Lifestyle.
Our Standards: Thomson Reuters Trust Principles.
