Coffee chains speed up the pace of opening stores

Starbucks reported third-quarter net profit of $417.8 million, up 25.4% from the same period last year. Global same-store sales increased by 8%, with same-store sales in China and other Asia-Pacific regions up 9%.

Earlier, the closure of Starbucks' Beijing international trade store sparked speculation that it could not afford high rents. Yesterday, Starbucks said in an official statement to this newspaper: "Starbucks Beijing ITC I stores moved to ITC III, the relocation of the store area is larger." The statement said that its development plan in China has not changed at present, and will operate 1500 stores in China by 2015.

However, the competition in the coffee chain market is becoming increasingly fierce, and Starbucks' main competitors such as McCoffee and Pacific Coffee are also speeding up the pace of opening stores.

It is reported that McDonald's McCoffee reached 516 stores in 24 cities by 2012, and is expected to exceed 750 by the end of 2013. According to the China Resources Entrepreneurship Quarterly report, Pacific Coffee has a total of 300 direct stores and franchise stores across the country in the first quarter, an increase of more than 65% over the same period last year.

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