Starbucks: Britain’s second-largest coffee chain plots 100 new UK stores
Starbucks UK has outlined plans to open 100 new stores as it delivered strong trading amid a period of weak consumer spending.
Its expansion plans came as part of its full year trading update for last year.
Britain’s second largest coffee chain, trumped by Costa, reported a 21.9 per cent hike in revenue to £547.7m and paid £7.2m in corporation tax.
Operating profit almost doubled when compared to the year before, coming in at £21.7m.
The American chain, which came to the UK over 25 years ago, has also been ramping up its drive-thru offering in the country and its mobile orders.
Starbucks said today: “Strong, resilient revenue growth continued, even with challenging economic headwinds in the UK.
“Investment in drive thru stores and digital channels such as mobile order and pay systems, delivery services, and improvements to the loyalty program which saw a 100 per cent increase in 90-day active membership going from 600k to 1.2m, has continued to go from strength to strength.”
Starbucks has over 1,100 stores across Britain and last year also announced plans to open 100 stores.
The company has been one of many companies which has faced backlash from pro-Palestinian groups amid alleged links to Israel. It was forced to call for peace earlier this year after some of its its stores were vandalised.
Boss Laxman Narasimhan, said: “We see protesters influenced by misrepresentation on social media of what we stand for.”
“We have worked with local authorities to ensure our partners and customers are safe. Nothing is more important. Our stance is clear. We stand for humanity.”
Some $11bn (£10bn) has been wiped off the coffee outfit’s market value amid calls for a boycott.