Starbucks (SBUX) Announces Further Expansion Into Europe

Starbucks (Nasdaq: SBUX) today announced it will expand operations into Portugal and Bulgaria, which follows its strategy of developing business clusters within Europe, the Middle East and Africa. The division of Starbucks dealing with this region, known as Starbucks Coffee EMEA, recently extended joint ventures with Marinopoulos Group in Bulgaria and Gruop VIPS in Portugal. Stores are expected to open in Bulgaria's capital city, Sofia and Portugal's capital, Lisbon sometime in 2008.

Shares of Starbucks are having an extremely difficult time bucking a year long slide in stock price and even positive news items, such as todays, are failing to reverse the stocks decline. Shares are down about 3% today, and have once again hit a new 52-week low today, this time at $19.89. In December, which has only seen thirteen trading days so far, Starbuck's stock price has set a new 52-week low seven times.

Starbucks Corporation engages in the purchase, roasting, and sale of whole bean coffees worldwide.

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