Starbucks to invest £30m opening more than 100 new UK coffee shops following jump in sales
Starbucks plans to open more than 100 UK coffee shops following a jump in sales.
The cafe giant said it aims to invest £30million in store openings and refurbishing existing sites.
The investment comes after reports last year that Starbucks was considering selling its UK business, which has 1,066 stores.
Expansion: Starbucks said it aims to invest £30m in new UK stores as well as refurbishing existing sites
It plans 300 new outlets in Europe, the Middle East and Africa as a whole.
In the UK, the focus will be on drive-through sites and ‘key cities’. Starbucks is also aiming to renovate 30 company-operated stores over the course of the coming year.
UK revenues surged by 37 per cent to £449.3million for the year to October as it continued its recovery from the pandemic.
However, the business saw operating profits slip to £12.6million from £16.5million in the previous year, following inflationary pressure and investment in staff pay.