Starbucks sales fall after Brits boycott the chain

Starbucks’ turnover in the UK has dropped for the first time ever after the corporate tax revelations of last year.

Brits who were angry about the fact Starbucks paid no corporation tax in its 16-year-history in Britain boycotted the coffee chain – the probable cause of the 3.4% drop in sales to £399m.

However, the company blamed the fall on the closure of its unprofitable outlets.

Starbucks’ gross profit increased by 13% to £79.7m, before deductions of £100.5m, in the year to 29 September 2013.

Starbucks had previously been accused of taking massive deductions from the UK arm of the business for licencing fees and other charges which meant the business technically makes a loss in the UK.

NOW READ:

Haircuts, pet insurance or the gym could stop you getting a mortgage under new lending rules

Readers' comments (1)

  • I never drink at Startbucks. Nothing to do with a political statement. I just dont like their coffee. Costa and Caffe Nero is much nicer ;-)

    Unsuitable or offensive? Report this comment

Social Bookmarks