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Starbucks (SBUX) Stock Rises on Potential Expansion into Italy

NEW YORK (TheStreet) -- Starbucks (SBUX - Get Report) stock is gaining by 1.19% to $59.52 in afternoon trading on Thursday, following reports that the coffee shop chain may open locations in Italy, according to Reuters.

The company is in talks with businessman Antonio Percassi to open coffee shops in Italy in a deal that may come as soon as Christmas, Reuters reports, sourcing the Corriere della Sera newspaper.

Percassi's company owns a cosmetic chain and has a franchising deal in Italy with Victoria's Secret.

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It would be a risk for Starbucks to enter the Italian market, where consumers are used to smaller portions of coffee, such as a shot, Reuters noted.

Italy, however, may lead to high rewards as it boasts the seventh highest per capita coffee consumption in Europe, according to data from the European Coffee Federation, Reuters added.

Separately, TheStreet Ratings team rates STARBUCKS CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about...


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