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That's a lot of coffee: Starbucks sales set to break $20 billion in 2016; more expansion on tap
Buoyed by the launch of new menu offerings and increases in store traffic, Starbucks Corp. brewed up another strong quarter, with revenue and profits meeting Wall Street expectations. The coffee giant also continues to set a torrid pace for store expansion.
Starbucks intends to open 1,800 new stores globally during fiscal 2016, with licensing driving a large portion of the growth. This includes 700 stores in the Americas (half licensed), 900 in China/Asia-Pacific (two-thirds licensed), and 200 primarily licensed stores in Europe/Middle East/Africa (EMEA).
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Report: Another big name throws hat in mobile payment ring
Mobile payment keeps getting more popular, at least on the provider side.
According to Re/Code, Amazon.com is launching a mobile “Pay with Amazon” button that will let consumers automatically use their Amazon payment information to make purchases on other retailer’s e-commerce apps. While not exactly a mobile wallet app, the Pay With Amazon button is definitely an attempt to obtain a piece of the mobile payment market which Apple, Samsung, Google, and several other entities are trying to take an early lead in.