Starbucks Corp, the largest US coffee-shop chain, said third-quarter profit climbed 23 percent as new stores, prepaid gift cards and products such as malt-flavored drinks bolstered sales. \nNet income increased to US$68.4 million, or US$0.17 a share, from US$55.7 million, or US$0.14, a year earlier, the company said. Revenue in the period ended June 29 rose 24 percent to US$1 billion. \nStarbucks added 283 coffee shops in the quarter, bringing its total to 6,741 licensed and company-operated stores. The company had also been adding specialty drinks and features such as WiFi access and gift cards to keep customers returning, helping to increase sales 8 percent at shops open at least 13 months. \n"People are willing to give up a lot of things, but it doesn't look like Starbucks," said Reed Bender, a money manager at Robert Bender & Associates, owner of about 350,000 Starbucks shares. \nShares of Starbucks fell US$0.89 to US$25.50 on electronic exchanges after the close of NASDAQ Stock Market trading. The stock had dropped US$0.45 earlier. It had risen 29 percent this year. \nProfit was US$0.01 more than the average forecast of analysts surveyed by Thomson Financial. \nStarbucks expects to earn US$0.67 a share in this fiscal year and US$0.83 to US$0.85 the following year. The company was forecast to earn US$0.67 this year and US$0.81 next year, according to Thomson. \nThe company forecast same-store sales growth will be at or above the high end of its 3 percent to 7 percent range for the remainder of the fiscal year and 3 percent to 7 percent higher next year. \nStarbucks plans to open about 1,300 new stores on a global basis in the next fiscal year, up from about 1,200 stores in fiscal 2003. \nThe company expects to open about 575 company-operated locations and 375 licensed locations in North America in the next fiscal year.
ALEX AZAR: The first visit by a head of the Department of Health and Human Services would strictly observe the CECC’s special regulations, the Ministry of Foreign Affairs said US Secretary of Health and Human Services (HHS) Alex Azar is to lead a delegation to Taiwan — the highest-level visit by a US Cabinet official since the two sides cut formal relations in 1979. The plan was announced yesterday morning by the US Department of Health and Human Services and confirmed by the Ministry of Foreign Affairs (MOFA). Beijing has expressed its concerns to Washington, Chinese Ministry of Foreign Affairs spokesman Wang Wenbin (汪文斌) said later yesterday. Taiwan and the US only issued statements saying that the visit would happen “in the coming days.” MOFA said that due to security concerns, it would
‘CROSS-STRAIT CONSIDERATIONS’: Groups said that the Ministry of Education’s policies excluded Chinese and students should not be blocked over political issues The Taiwan International Student Movement yesterday said it would protest today outside the Ministry of Education in Taipei against a policy that excludes some Chinese students from returning to Taiwan amid the COVID-19 pandemic. Since June 17, the ministry has allowed foreign students from 19 “low risk” and “medium-low risk” countries and regions to enter Taiwan. On July 22, it announced that it was relaxing restrictions to include students from all countries and regions who are graduating this semester and on Wednesday it further expanded entry to students enrolled in degree programs. A letter sent by the ministry on Wednesday to universities did
The military last week sent “no small number” of Marine Corps officers to the Pratas Islands (Dongsha Island, 東沙群島) following reports of a Chinese People’s Liberation Army (PLA) drill targeting the islands scheduled for this month. In an interview with Hong Kong’s Bauhinia Magazine published on Saturday last week, PLA National Defense University professor Li Daguang (李大光) confirmed that the Chinese army was planning to stage a simulated invasion of the Pratas Islands in the South China Sea this month. The islands comprise three atolls, with Pratas Island, at 1.74km2, being the largest. They lie southwest of Taiwan proper in the South
‘CORRUPTION’: One DPP lawmaker and two KMT legislators were held incommunicado, while former NPP chairman Hsu Yung-ming was released on bail in the Pacific Sogo case The Taipei District Court yesterday ordered that three lawmakers be held incommunicado amid a probe into allegedly bribery relating to an ownership dispute over Pacific Sogo Department Store (太平洋崇光百貨). The three are Su Chen-ching (蘇震清) of the Democratic Progressive Party, and Chen Chao-ming (陳超明) and Sufin Siluko (廖國棟) of the Chinese Nationalist Party (KMT). Also held incommunicado were Su’s office director Yu Hsueh-yang (余學洋) and Sufin’s office director Ting Fu-hua (丁復華), as well as Kuo Ke-ming (郭克銘), a political lobbyist and general manager of Knowledge International Consultancy (是知管理顧問公司). The Taipei District Prosecutors’ Office on Friday raided the offices of six incumbent and former