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Starbucks says aims to open 500 new stores in China in 2016

Published 01/12/2016, 01:17 AM
Updated 01/12/2016, 01:20 AM
© Reuters. Customers walk out of a Starbucks coffee store in Shanghai

HONG KONG (Reuters) - Starbucks Corp (O:SBUX), the world's largest coffee chain, said on Tuesday it aims to open 500 stores in China this year, shrugging off a slowdown in the world's second-largest economy that has hit global retailers.

Starbucks executives have said they have not seen a systemic slowdown in China, even as the country's cooling economy has been blamed for soft results by the likes of KFC and Pizza Hut parent Yum Brands (N:YUM).

© Reuters. Customers walk out of a Starbucks coffee store in Shanghai

The company said in a statement it aims to create 10,000 jobs in China every year through 2019 as it continues to expand in its largest market outside the United States.

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