Starbucks expected to exceed W100 billion operating profits

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Starbucks expected to exceed W100 billion operating profits

Operating profits of Starbucks Coffee Korea are expected to exceed 100 billion won ($88.4 million) this year amid the growing popularity of the U.S. coffeehouse chain, industry sources said Tuesday.

The 50-50 joint venture between retail conglomerate Shinsegae and the U.S. coffee giant posted 52.8 billion won in operating profits on 593.5 billion won in sales during the first six months this year.

It is the first time Starbucks recorded over 50 billion won in operating profits since it opened its first local branch near Ewha Womans University in Seoul in 1999.


YONHAP
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