Starbucks to invest £30m opening more than 100 new UK coffee shops following jump in sales
Starbucks invests £30 million in opening more than 100 new UK coffee shops after strong sales increase
Starbucks plans to open more than 100 UK coffee shops after a sharp increase in sales.
The cafe giant said it wants to invest £30 million in store openings and refurbishing existing locations.
The investment follows reports last year that Starbucks was considering selling its UK operations, which have 1,066 stores.
Expansion: Starbucks said it wants to invest £30m in new UK stores and refurbish existing locations
It is planning 300 new outlets in Europe, the Middle East and Africa as a whole.
In the United Kingdom, the focus will be on drive-through sites and key cities. Starbucks also aims to renovate 30 of its own stores over the course of the next year.
UK revenues were up 37 per cent to £449.3m for the year to October as the recovery from the pandemic continued.
However, the company saw its operating profit fall from £16.5m the previous year to £12.6m, due to inflationary pressures and investments in staff wages.