Starbucks: Starbucks adds another layer of future growth: Consolidating Japan
RBC notes Starbucks announced its intent to purchase the remaining 60.5% of Starbucks Coffee Japan, ltd. While the co provided limited detail around its performance in the region, Starbucks Japan should represent ~7-8% of total rev. Over time, they see the opportunity to accelerate revenue growth through Channel Development (CPG) and unit growth. In addition, they believe the Teavana brand will be an important part of the growth story in Japan, given the high relevance of tea in the region.