(SX120206CSJS04)
Starbucks
Corporation,
generally known as Starbucks Coffee, is an American
global coffee company and coffeehouse chainbased in Seattle, Washington. Starbucks is the largest coffeehouse company in the world ahead of UK rival Costa Coffee,
with 21,160 stores in 63 countries and territories, including 12,067 in the United States,
1,570 in China, 1,451 in Canada, 1,070
in Japan and 793 in the United Kingdom.
Starbucks locations
serve hot and cold beverages, whole-bean coffee, microground instant coffee,
full-leaf teas, pastries,
and snacks. Most stores also sell pre-packaged food items, hot and cold
sandwiches, and items such as mugs and tumblers.
Starbucks Evenings locations also offer a variety of beers, wines, and appetizers
after 4pm. Through the Starbucks
Entertainment division and Hear Music brand, the company also markets books,
music, and film. Many of the company's products are seasonal or specific to the
locality of the store. Starbucks-brand ice cream and coffee are also offered at grocery
stores.
From Starbucks'
founding in 1971 as a Seattle coffee bean roaster and retailer,
the company has expanded rapidly. Since 1987, Starbucks has opened on average
two new stores every day. Starbucks
had been profitable as a local company in Seattle in the early 1980s but lost money on its late 1980s
expansion into the Midwest and British
Columbia. Its fortunes did not reverse until the fiscal year of
1989-1990, when it registered a small profit of
$812,000. By the time it expanded into California in 1991 it had become trendy. The first store outside the United
States or Canada opened in Tokyo in 1996, and overseas stores now
constitute almost one third of Starbucks' stores. The company planned to open a net of
900 new stores outside of the United States in 2009, but has announced 300 store closures
in the United States since 2008.
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