The loss of the UK includes a payment of £ 25.3m in royalties to its headquarters in Seattle, parents and an improvement in the deficit of £ 52.2m last year when a payment is also similar collapse operations hizo.El Border UK in late 2009 resulted in a discounted cost of about £ 10 million to close 36 coffee bars in the tents of his book.
UK equals that sales increased 5% in the year to October 3, 2010, in response to a loyalty card customers and new products, such as "Doubleshot" coffee frío.Las total sales increased 2 % to £ 396m, according to accounts filed at Companies Registry.
UK general manager Darcy Willson-Rymer, said: "Our sales continue to grow despite the harsh conditions on the street and our financial position continues to improve." He added that customers were responding to the "changes we're making," which included the introduction of a more British menu including bacon butties and porridge as well as the usual muffins.
The fate of the U.S. group have recovered the founder Howard Schultz, a self-made billionaire who grew up on a low heel urbanization of New York, who returned to lead the New York company a list of three, when he was drifting in the drop in consumer spending amid the banking crisis.
The restructuring plan established by Schultz three years, culminating with the company reporting "record" results of last year, driven by higher margins in its history of 40 years.The sales reached a record $ 10.7 bn (£ 6.6bn) while profits rose from $ 847m in 2009 to $ 1.4bn.De equals the growth rate of 7% drew a line under two years of unprecedented decline in sales.
In its 2010 annual report Schultz says the company began 2011 "healthier than we have been." "The internal obstacles he overcame, while navigating the current economic challenges and remain true to our values, we have become a stronger company, "he said.
One of the problems identified by Schultz in his return was the "commodification" of the brand, which in the past has been the target of the anti-globalización.Puso the brakes on aggressive expansion and closed nearly 1,000 stores problem, particularly in the U.S.. He also started a grocery business with new products like instant coffee brand as Via Frappucino bottled drinks and is now sold in supermercados.Como part of Schultz's plan to continue the recovery, has embarked on a rebranding exercise of vital this year that replaced the familiar white cups with pieces of bone china cups.
In addition, the U.S. company withdrew its name from its well-known mermaid logo so it can be sealed in grocery lines than coffee.
When Schultz returned to the business complained about the loss of a "soul" in cafes and tried to raise morale among front-line staff by replacing a complicated incentive plan bonus shares, called "Bean Stock ". The" restricted stock units "were delivered in January, with 50% of award vesting at the end of the first year and the rest released in chunks of 25% over the next two years.
"I always believe we can not create long term value for our shareholders, unless they really create value for our partners," he said. "RSUs are not under the water - there is always some value inherent in them."
When Starbucks arrived in the United Kingdom in late 1990, ignited the country's coffee culture emerging, but now faces stiff competition in what has become the third largest market for coffee bars mark after the U.S. . UU.Coffee and Canadá.Costa surpassed to become the market leader with 1,100 branches to date, and recently announced plans for many more. The British Broadcasting Corporation spent 24 million renovation of 100 stores during the year and also opened the first Starbucks autopista.También points experimenting with new shops, a dozen "drive-thrus" that will open this year and another 20 flagships to be renewed before the London Olympics.
Willson-Rymer said the positive trend in sales has continued into the new fiscal year and plans to open new stores "at a measured pace," is expected "to lead to further improvements in financial performance of the company. Starbucks currently has 717 UK stores.
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