With current stores showing little or no growth, Starbucks will adopt a conservative approach to store openings in Taiwan this year, the company said yesterday.
President Starbucks Coffee Corp (統一星巴克), the operator of the Starbucks coffee chain in Taiwan, has no plan to lower its prices in Taiwan, Amy Luan (欒美雲), a company public relations specialist, said.
Company earnings grew 33 percent last year from a year ago, with revenues rising 10 percent. Sales at stores that had been opened for at least a year rose 4 percent from the previous year, reversing a decline of between 3 percent and 5 percent in years 2006 and 2007, Luan said.
She did not provide earnings and revenues in dollar terms.
The country faces its most serious economic crisis since 2001, which has prompted many local fast-food restaurants to drastically cut their prices to attract customers.
McDonald’s, the world’s largest fast-food chain, on Feb. 4 cut prices for value meals purchased during lunch hours by as much as 25 percent, while rival KFC offered a 50 percent discount on second meals. The KFC offer began on Monday and will last through March 22.