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Starbucks considers next moves in China β Cramer says new CEO 'is not fooling around' [MSNBC.com]
Last starbucks corporation earnings: 4/28 04:05 pm
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US:NASDAQ Investor Relations: investor.starbucks.com/ir-home/default.aspx
Starbucks is exploring major moves to resurrect its struggling China business. The news Starbucks on Thursday said it's exploring the "best path to growth" in the world's second-largest economy, which includes "exploring strategic partnerships." New CEO Brian Niccol also said words to that effect on the company's fiscal fourth-quarter earnings call last month. The coffee giant's statement was in response to a Bloomberg report that Starbucks is considering selling a stake in its China operations. According to Bloomberg, such options could spur investment from Chinese companies or private equity firms to help Starbucks navigate the domestic coffee market. Shares of Starbucks rose 1.5% following the news. Bloomberg also said that no decision has been made but came as major shareholder Elliott Investment Management pressured new Starbucks CEO Brian Niccol and his team to figure out a plan for China, the company's No. 2 market behind the U.S. The Starbucks statement also said: "We are full
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