Caffeine jolts: Coffee shop growth in China sizzles while a bubble tea IPO goes flat [Seeking Alpha]
Starbucks Corporation (SBUX)
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Source: Seeking Alpha
China also passed the United States as the country with the most branded coffee shops in the world, according to data from World Coffee Portal. China was noted to be the fastest growing market in East Asia, ahead of Malaysia (28% growth) and the Philippines (15.3% growth). The U.S. Department of Agriculture forecasts China's demand for coffee will reach an estimated 5M bags in the 2023-24 season, which would make it the seventh-biggest coffee market in the world. Luckin Coffee ( OTCPK:LKNCY ), Starbucks ( NASDAQ: SBUX ), Restaurant Brands' ( QSR ) Tims China ( QSR ), Shanghai-based Manner, and Coca-Cola's ( KO ) Costa Coffee are some of the biggest coffee chains in China. However, there is a new chain that is gaining ground. Cotti Coffee is the chain with the most rapid growth recently and now has 13,296 outlets across two East Asian markets. As of March, Cotti had 6,570 stores on the Chinese mainland, compared with just six in October 2022 when it was launched by Luckin's co-founde
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SBUX
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- 4/30/24 - Miss
SBUX
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- 4/30/24 - Form 10-Q
- 4/30/24 - Form 8-K
- 4/24/24 - Form 4
- SBUX's page on the SEC website