Starbucks (SBUX) Looks to Wake Up Sleepy British Drivers with Massive Expansion
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Think driving in Britain is tense now? Wait until drivers become fully caffeinated.
Starbucks (Nasdaq: SBUX) thinks tea just isn't doing it overseas. The Seattle-based coffee company is looking to expand it's convenience presence in the U.K. with the addition of about 200 "drive-thrus" over the next five years.
Though commonplace in America, Britain has taken a slower approach to the adaptation of the drive-thru model.
Starbucks isn't betting the house though; the U.K. Telegraph notes Starbucks managing director in the U.K. said about 10 roadside shops have been tested over the last three years to positive response by the British.
The move will also be a boon for Britain, with Starbucks aiming to add an additional 5,000 employees over the next five years, a 44 percent increase from the 11,500 currently employed in the U.K., the Telegraph notes.
Despite the news, Starbucks shares are slightly lower Thursday, following a 3 percent upside move on Wednesday.
Starbucks (Nasdaq: SBUX) thinks tea just isn't doing it overseas. The Seattle-based coffee company is looking to expand it's convenience presence in the U.K. with the addition of about 200 "drive-thrus" over the next five years.
Though commonplace in America, Britain has taken a slower approach to the adaptation of the drive-thru model.
Starbucks isn't betting the house though; the U.K. Telegraph notes Starbucks managing director in the U.K. said about 10 roadside shops have been tested over the last three years to positive response by the British.
The move will also be a boon for Britain, with Starbucks aiming to add an additional 5,000 employees over the next five years, a 44 percent increase from the 11,500 currently employed in the U.K., the Telegraph notes.
Despite the news, Starbucks shares are slightly lower Thursday, following a 3 percent upside move on Wednesday.
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