Starbucks Korea reports strong second-quarter earnings

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Starbucks Korea reports strong second-quarter earnings

Starbucks Korea on Thursday reported a 52 percent on-year jump in second-quarter net profit on increased non-contact orders and the opening of new outlets.
 
Net profit for the second quarter jumped to 46.2 billion won ($39 million) from 30.3 billion won a year ago, according to second-quarter earnings results released by E-Mart, Korea’s biggest discount store chain operator.
 
Starbucks Korea is a 50:50 joint venture set up by E-Mart and Seattle-based Starbucks.
 
“Many consumers turned to non-contact services, such as the ‘siren’ and drive-through orders, due to the new coronavirus outbreak. And the opening of new outlets led to an increase in sales,” a company spokesman said in a text message.
 
Consumers can order a drink online and pick up their orders offline without waiting in line through the U.S. coffee franchise’s mobile-based ordering application called Siren Order.
 
Yonhap
 

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