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Starbucks Is Banking on Sales Expansion in China

With quarterly earnings around the corner, the coffee giant will be looking to get investors excited over new growth plans in China.

With quarterly earnings around the corner, TheStreet's Brian Sozzi says Starbucks (SBUX) - Get Starbucks Corporation Report will need to get investors excited over growth plans in China to offset sluggish sales in the U.S. The company said Wednesday that it will more than double its store count in China to 5,000 by 2021. Sozzi noted Starbucks has done business in China for about 17 years, and now operates at more than 2,300 cafes and in about 100 cities. Starbucks also recently appointed its first chief executive for China in Belinda Wong, promoting her from president of that outfit. The company also has about 10 million Starbucks rewards members in China, and has plans to debut ready-to-drink products including as bottled frappes.

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