UK Arm Of Starbucks Suffers £17.2m Loss
The UK arm of Starbucks lost £17.2 million during the twelve months that ended on September 30, 2018, according to a filing made on June 27.
Starbucks suffered as a result of renegotiating leases and shutting down unprofitable outlets in Britain, which led to the company taking a £20 million hit.
Drive-Through Branches And Delivery Service
However, despite closing a number of outlets that were not doing good business, Starbucks is expanding its portfolio of drive-through branches in the UK. The renowned coffee company has also started a delivery service in London, which it is operating in partnership with Uber Eats.
© 2019 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.