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Starbucks Expanding in Indonesia and Philipines

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Present in Southeast Asia since 1996, and doing business there (as a coffee buyer) since 1971, Starbucks (NASDAQ: SBUX  ) is ready to take its next big step in the region.

The company announced Thursday that, over the next four years, it intends to open 100 new coffee stores in the Philippines. It's moving even faster next door in Indonesia, where Starbucks plans to open 100 stores over just three years. So said company CEO Howard Schultz during a tour of the region earlier this week.

The motivation is obvious -- and it's not just about getting bigger. Starbucks currently gets about 5.4% of its annual revenues from sales in the China / Asia Pacific region (CAP) -- but it derives 12.7% of annual pre-tax profit from there.

Investors responded well to Shultz's plan to do more business in the region that's literally Starbucks' most profitable place to do business. The shares gained 0.7% in Thursday trading to close at $58.11.

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Rich Smith

I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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4/29/2016 4:00 PM
SBUX $56.23 Down -0.19 -0.34%
Starbucks CAPS Rating: ****