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Under the Radar: Coffee chat with the GM of Starbucks Singapore - on price elasticity, business positioning strategy amid inflation, customer rewards programme, relationship with workers road ahead for the next 3-5 years, possibility of community concept cafes
Coffee is on the agenda for us today, with Starbucks Corporation set to unveil its results for the first quarter of fiscal year 2023 today. According to Yahoo Finance, analysts are expecting an 8.6% on-year improvement in revenue, amid accelerating same store sales and unit growth, as well as a margin explosion. Aside from the sales figures, it is also an exciting time for Starbucks in the US, with changes to its rewards programme and more. But what is the situation like for operations in Singapore, which is owned by Hong Kong-based Maxim’s Caterers? How will Starbucks Singapore navigate…
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