Tarbux has said it plans to open more than 100 new UK coffee shops following a jump in sales.
The cafe giant said it aimed to invest £30 million in its UK operation through store openings as well as refurbishment of existing sites.
The investment comes after reports last year that Starbucks was considering selling the UK business, which comprises 1,066 stores.
The company said it plans to open 300 new sites across its business across Europe, the Middle East and Africa.
In the UK, it said its plans to open 100 coffee shops would focus on drive-thru sites and locations within major cities.
It also aims to renovate 30 company-run stores during the year.
Starbucks said it was “very encouraged by the performance” of its licensed and franchise stores and expected to open more in the current fiscal year as part of its growth strategy.
It opened 30 company-operated stores and closed nine sites in the year to October. It said it has also increased the number of its licensed and franchised stores to 45.
The growth plans come as Starbucks revealed UK revenue rose 37% to £449.3 million for the year as it continued its recovery from the pandemic.
However, the business reported a reduction in operating profit to £12.6 million from the previous year’s £16.5 million, following inflationary pressures and investment in staff wages.
Duncan Moir, President of Starbucks Europe, Middle East and Africa, said: “We have had a very strong year of revenue growth in the UK and EMEA and I am pleased to report that we have returned to our pre-pandemic revenue levels. have crossed
“This is all thanks to the hard work of our amazing team of partners who are dedicated to delivering a positive experience for every customer.”
Credit: www.standard.co.uk /