Starbucks Exploring Sale of U.K. Arm, the Sunday Times Reports
July 18 2022 - 2:31AM
Dow Jones News
--Starbucks Corp. is exploring a possible sale of its U.K.
operations, as it battles rising costs and new competitors, the
Sunday Times reports.
--The coffee chain has asked adviser Houlihan Lokey to explore
interest for the U.K. business, which employs 4,000 people across
more than 1,000 coffee shops, the Sunday Times reports.
-- The U.K. arm, Starbucks Coffee Company UK, reported a pretax
profit of 13.3 million pounds ($15.8 million) in the year ended
October 2021, along with reported sales of GBP328 million, the
Sunday Times reports.
Full story: https://bit.ly/3aOItJB
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
July 18, 2022 02:16 ET (06:16 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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