U.S. Markets open in 4 hrs 7 mins

  • S&P Futures

    4,232.25
    +22.50 (+0.53%)
     

  • Dow Futures

    33,465.00
    +161.00 (+0.48%)
     

  • Nasdaq Futures

    13,386.00
    +74.75 (+0.56%)
     

  • Russell 2000 Futures

    1,989.40
    +13.10 (+0.66%)
     

  • Crude Oil

    94.25
    -0.09 (-0.10%)
     

  • Gold

    1,802.30
    -4.90 (-0.27%)
     

  • Silver

    20.27
    -0.07 (-0.36%)
     

  • EUR/USD

    1.0301
    -0.0024 (-0.2369%)
     

  • 10-Yr Bond

    2.8880
    0.0000 (0.00%)
     

  • Vix

    20.07
    +0.33 (+1.67%)
     

  • GBP/USD

    1.2153
    -0.0049 (-0.4023%)
     

  • USD/JPY

    133.2920
    +0.2930 (+0.2203%)
     

  • BTC-USD

    23,964.70
    -532.58 (-2.17%)
     

  • CMC Crypto 200

    569.87
    -4.87 (-0.85%)
     

  • FTSE 100

    7,505.15
    +39.24 (+0.53%)
     

  • Nikkei 225

    28,546.98
    +727.65 (+2.62%)
     

Starbucks Weighs Selling Its UK Operations, Times Reports

  • Oops!
    Something went wrong.
    Please try again later.
Leonard Kehnscherper
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • SBUX
    Watchlist

(Bloomberg) --

Most Read from Bloomberg

Starbucks Corp. has asked its adviser Houlihan Lokey to assess interest for its UK operations, the Times reported Saturday.

The coffee chain continues to “evaluate strategic options” for its company-owned international operations, the newspaper reported, without specifying how it obtained the information.

A Starbucks spokesperson told Bloomberg it “is not in a formal sale process for the company’s UK business.”

The UK is Starbucks’ largest market in Europe, the Middle East and Africa. As of last year, it had 1,000 stores in Britain, with 297 company-owned and 703 run by licensees, the company said in a financial report for the fiscal year ending in October 2021.

Total revenue was £328 million ($389 million) for the fiscal year, and Starbucks UK Coffee had repaid in full a £25 million loan from its parent company to offset losses from reduced sales during the first months of the coronavirus pandemic, it said.

While the coffee chain experienced a rebound in revenue after Covid-19 lockdowns eased in the UK, it said the financial performance of company-owned stores had not recovered to pre-pandemic levels. Office, travel and inner-city stores had lagged other locations. Starbucks opened 14 new company stores during fiscal year 2021 and closed five, it said.

Earlier this year, market researcher Allegra Group said coffee chains in the UK will take four years to recover from the Covid slump.

(Updates with statement from company)

Most Read from Bloomberg Businessweek

©2022 Bloomberg L.P.

Recommended Stories

  • Rivian earnings: Investors wrote the stock off after early ‘horror show,’ analyst says

    Wedbush Managing Director and Senior Equity Analyst Dan Ives joins Yahoo Finance Live to discuss Rivian earnings, the opportunity for EV makers like Tesla, and whether the Elon Musk-Twitter deal goes through.

  • Powell Needs to Speak Up to Stop Ill-Fated Market Rally, Strategist Says

    (Bloomberg) -- Principal Global Investors’ Seema Shah is no stock market bull but says the rally that erupted Wednesday may continue until the head of the Federal Reserve steps up and stops it.Most Read from BloombergStriking Drop in Stress Hormone Predicts Long Covid in StudyThe Fed’s Damage to the Housing Market May Last YearsGarland Seeks to Unseal Trump Warrant, Says He Approved SearchChina Has Painted Itself Into a Semiconductor CornerRuto, Odinga Shy of Victory in Latest Vote Counts: Kenya

  • Elon Musk Says Lithium Demand Will Continue to Boom — Here Are 2 Stocks That Could Benefit

    Let’s talk about electric vehicles (EVs) and their batteries. The high price of gasoline – still up about $2 since President Biden took office – has boosted interest in EVs. Greater customer curiosity will lead naturally to higher demand, and now we get to batteries, and lithium. Lithium is a metallic element essential in the construction of high-voltage battery systems, and every EV built needs an average of 8 kilos of the metal. Industry experts are saying that lithium demand will far outstrip

  • SEC launches investigation into claims of Melvin Capital misleading investors on meme stocks

    Yahoo Finance reporter Alexandra Semenova details a new report that the SEC is investigating Melvin Capital for potentially misleading investors.

  • Illumina (ILMN) Q2 Earnings and Revenues Lag Estimates

    Illumina (ILMN) delivered earnings and revenue surprises of -9.52% and 4.73%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

  • Have stocks bottomed? Not until this ‘gorilla’ in equity markets budges, warns BofA

    The big-money investor in U.S. stocks is households, not hedge funds or major corporations. Until households start selling, stocks haven't hit their lows, warns BofA Global.

  • Investors are Shorting These 10 Chinese Stocks

    In this article, we discuss 10 Chinese stocks investors are shorting. If you want to skip our discussion about the turmoil in the Chinese economy, go directly to Investors are Shorting These 5 Chinese Stocks. NIO Inc. (NYSE:NIO), KE Holdings Inc. (NYSE:BEKE), and TAL Education Group (NYSE:TAL) are some of the stocks that investors are […]

  • Geron (GERN) Q2 2022 Earnings Call Transcript

    At this time, I would like to welcome everyone to the Geron earnings second quarter 2022 conference call. Aron Feingold, vice president of investor relations and corporate communications, you may now begin your conference.

  • Stock market bulls eye technical signal for further gains

    Some stock market bulls are watching a technical indicator for clues on whether a summer rebound in U.S. equities will roll on. The S&P 500 is up 15% from its mid-June low, a rally that gained even more momentum after Wednesday's U.S. inflation data showed consumer prices unchanged for July. The stock surge, which has delivered the S&P's best eight-week period in more than a year, has brought the index within sight of a 50% retracement of its bear market loss.

  • Tesla Announces 3-For-1 Stock Split Date: Is Now The Time To Buy?

    Tesla, Amazon, Google-parent Alphabet, GameStop and Shopify have announced or carried out stock splits in 2022. So what is a stock split and how does it affect your investment?

  • Meta’s Susan Li will join a growing group of Fortune 500 CFOs under 40

    The average age of a Fortune 500 CFO is 53, but a group of leaders became finance chiefs before their 40th birthday.

  • Four REITS That Pay Monthly Dividends

    One of the big advantages of owning certain real estate investment trusts (REITs) over common stock is this: Some pay dividends monthly. Stocks pay dividends quarterly, which is nice, but monthly sounds better to more than a few investors. With that in mind, here are five REITs paying the monthly dividends. 1. Agree Realty Corp. (NYSE: ADC) pays a 3.61% annualized dividend and trades on the New York Stock Exchange with an average daily volume of 815,000 shares. The monthly dividend payment is $0

  • China’s SMIC Warns of ‘Rapid Freeze’ as Smartphone Demand Skids

    (Bloomberg) -- Semiconductor Manufacturing International Corp. warned that clients in sectors such as smartphones were freezing orders, underscoring how a downturn in consumer electronics demand is hurting the chip sector.Most Read from BloombergStriking Drop in Stress Hormone Predicts Long Covid in StudyThe Fed’s Damage to the Housing Market May Last YearsGarland Seeks to Unseal Trump Warrant, Says He Approved SearchChina Has Painted Itself Into a Semiconductor CornerRuto, Odinga Shy of Victory

  • Rivian’s Losses Nearly Triple to $1.7 Billion

    The electric-vehicle maker said its operating loss is expected to grow to $5.45 billion, from its previous projection of $4.75 billion for the full year, further pressuring the startup to conserve cash and move quickly to fill customer orders.

  • Ryan Reynolds spent nearly $3 million before consulting his wife Blake Lively: ‘We’re still working through that one’

    Financial planners share how much spouses should be able to comfortably spend from joint income.

  • Nvidia (NVDA) Dips More Than Broader Markets: What You Should Know

    In the latest trading session, Nvidia (NVDA) closed at $179.42, marking a -0.86% move from the previous day.

  • 3 Growth Stocks Show Rebounding Strength, Get Spots On The Watchlist

    Arthur J. Gallagher, EXL and Medpace have risen sharply in recent weeks. As noted later in this story, the ideal entry point for these LTL plays typically arrives on a pullback to a key moving average. The latest follow-through by the Nasdaq arrived on June 24.

  • Inflation: What July’s CPI data means for the Fed

    Yahoo Finance Live’s Brian Cheung explains July Consumer Price Index (CPI) data and what the report means for the Fed moving forward.

  • Grocery prices in July had largest price increase since 1979 — with one food staple rising by 38% on the year

    The rise in the cost of living cooled in July, but not for grocery prices. The price of consumer goods and services was steady in July from the previous month, as the Labor Department said Wednesday. In July, the inflation rate compared to a year ago was 8.5%, lower than 9.1% in June, a 41-year record, helped by lower prices in energy.

  • 3 Reasons to Buy the Dip on Palantir

    The mercurial stock is down after earnings, but there is still plenty of reason for optimism for long-term investors.