Staff members work at a Starbucks store in downtown Shanghai, east China, Sept. 27, 2022. (Xinhua/Liu Ying)
SHANGHAI, Nov. 3 (Xinhua) -- U.S. coffee giant Starbucks announced Friday that the company has opened 326 new stores in the Chinese mainland during its fourth fiscal quarter from July 3 to Oct. 1, with a strong revenue growth of 15 percent year on year for its China business.
"We finished our fourth quarter and full fiscal year strong, delivering on the higher end of our full-year guidance. Our reinvestment is moving ahead of schedule, fueling revenue growth, efficiency and margin expansion," said Laxman Narasimhan, chief executive officer of Starbucks.
At present, the total number of Starbucks stores in the Chinese mainland has reached 6,806.
Starbucks has maintained a strong growth momentum in the China market, achieving revenue growth of 11 percent year on year in its full fiscal year to reach 3 billion U.S. dollars.
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