Starbucks plans double Thai outlets to 340, time-frame not given

There’s going to be even more Starbucks (SBUX) stores in the world. On Wednesday, the coffee giant announced further plans to expand into Southeast Asia. In recent months, the company announced plans to open more stores in Indonesia and the Philippines. And it has pledged to double its store count in Thailand. Starbucks Coffee (Thailand) Co., Ltd. was founded in Thailand since July 1998. Starbucks Coffee (Thailand) now operates 169 retail locations throughout the Kingdom of Thailand. The company is dedicated to making the Starbucks Experience a rewarding part of the day for all its customers in Thailand, while contributing positively to the community through its sponsorship of sustainable coffee production with Thai hill tribes under the name of Muan Jai®. Starbucks unveiled plans to open 100 new stores in Malaysia over the next fours years and said that it’ll look into ways to expand into channels such as grocery and convenience stores. It currently has 141 stores in Malaysia. Starbucks still does a big part of its business in the Americas region, which includes the U.S., Canada and Latin America. Last fiscal year ended in September, the Americas accounted for 75% of total revenue. But as Chief Executive Howard Schultz noted in a press release in April, Southeast Asia represents a strong growth opportunity. The region has a population of more than 600 million, with an emerging middle class. The Seattle-based firm has a long history of strong growth. Except for an 18% drop in 2008, profit has grown by double digits each year since at least 1995. Analysts polled by Thomson Reuters see profit rising 22% to $2.18 a share this year. (Source)


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