Starbucks yet to brew a profit locally

Australian coffee drinkers continue to remain impervious to the appeal of Starbucks, according to The Australian. The US coffee colossus known for its global ubiquity is yet to make a profit in the Aussie market, and endured a $5.04 million loss this financial year. But Starbucks’ Australian licencee, the billionaire Russell Withers, remains optimistic, growing its Aussie footprint by eight cafes last year, for a total of 45. Starbucks arrived locally in 2000, opening – and then shuttering – 61 stores before selling a license to Withers.