Starbucks Weighs Japan Stake Sale at $2.5 Billion as Niccol Sharpens Focus on US Turnaround
Updated
Updated · CNBC · Jun 10
Starbucks Weighs Japan Stake Sale at $2.5 Billion as Niccol Sharpens Focus on US Turnaround
3 articles · Updated · CNBC · Jun 10
Summary
Bloomberg reported Starbucks is considering selling a stake in its Japan business in a deal that could value the unit at about $2.5 billion.
The move would monetize a non-core market and free management to concentrate on reviving the US business, echoing CEO Brian Niccol’s partnership approach in China.
Japan has been one of Starbucks’ stronger markets, with Niccol citing an “outstanding quarter” in April driven by record New Year sales, tourism and menu additions.
Cowen said the sale has solid industrial logic because Japan is not a core market, and Starbucks shares outperformed a weak session, rising more than 1%.