Reported about 11 hours ago
Starbucks has stated that it is not considering a complete sale of its China operations, despite reports suggesting otherwise. The company confirmed that it is in preliminary discussions with potential buyers but has not made any decisions regarding selling a controlling or minority stake. Starbucks is also facing increasing competition in China, resulting in a significant decline in its market share amidst aggressive pricing from rivals. Recent moves include opening a Coffee Innovation Park and lowering prices for some drink offerings.
Source: YAHOO