Starbucks is opening a store in China every 15 hours

Starbucks is now building more net new company-operated stores in China than the U.S., said CEO Kevin Johnson, who replaced CEO Howard Schultz in April when the long-time leader transitioned into the role of executive chairman.

In China, Starbucks’ young baristas and shift supervisors receive a housing allowance subsidy, Wong said. The idea is to give those employees who have likely just finished college financial security.

Comparable-sales growth in China is outpacing the U.S. Last quarter , China posted an eight per cent increase, compared with a three per cent gain in the U.S., excluding impacts from Hurricanes Harvey and Irma.

Starbucks is serving more than 5 million customers in China per week, Johnson said. Most of those visits occur between 1 p.m. and 3 p.m., but he said the stores are starting to see more residents adopt the American habit of drinking coffee in the morning.

http://www.scmp.com/business/china-business/article/2123081/starbucks-opening-store-china-every-15-hours

Shares of Starbucks have risen 5.8 per cent this year.