Starbucks will invest £30m in opening more than 100 new cafes in the UK after an increase in sales
Starbucks plans to open more than 100 cafes in the UK following an increase in sales.
The coffee giant said it was aiming to invest £30million in opening stores 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 stores in the UK as well as refurbishing existing sites
It plans 300 new points of sale in Europe, the Middle East and across Africa.
In the UK, the focus will be on drive-through sites and ‘key cities’. Starbucks also aims to renovate 30 company-operated stores in the coming year.
UK revenue jumped 37% to £449.3million for the year to October as it continued its recovery from the pandemic.
However, the business saw its operating profits fall to £12.6m from £16.5m the previous year, following inflationary pressures and investments in staff compensation.
