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Starbucks opens first express service store in Beijing

Tonya Garcia

Starbucks Corp. said Friday that it has opened its first express retail location, Starbucks Now, in Beijing. The store, located in the city's financial district, offers limited seating along with mobile-order-and-pay and delivery service. The limited-seating format is one that Chinese competitor, Luckin Coffee Inc. , also offers at the majority of its stores. Starbucks stock has soared 78% over the past year while the S&P 500 index has gained 7.4%. Luckin Coffee, which went public in May, is up 6.4% over the last month.