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MarketScreener Homepage  >  Equities  >  Mexican Stock Exchange  >  Alsea, S.A.B. de C.V.    ALSEA *   MXP001391012

ALSEA, S.A.B. DE C.V.

(ALSEA *)
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Starbucks 'unlikely' to be overtaken in China by Luckin in 2019: CEO

02/08/2019 | 02:14am EST
Starbucks CEO Kevin Johnson, gestures during an during an interview with Reuters in Mexico City

MEXICO CITY (Reuters) - Starbucks Corp is unlikely to cede its leading position in China, the company's fastest-growing major market, to Chinese startup Luckin in 2019, Starbucks CEO Kevin Johnson said in an interview on Thursday.

Seattle-based Starbucks, the world's largest coffee chain, has been building its presence in the world's second-biggest economy for the past couple of decades, while Luckin only launched at the beginning of last year, expanding rapidly with a focus on technology and heavy discounting even at the cost of mounting losses.

"I think it's unlikely," said Johnson when asked if Luckin might overtake Starbucks in China by the end of 2019, pointing to the 18 percent growth in new Chinese stores the company racked up in the fourth quarter.

"Just this last quarter we entered 10 new cities in China," he said, adding that each of those cites is larger than Los Angeles, the sprawling southern California metropolis with a population of around 4 million.

Luckin has said it is targeting a total of more than 4,500 stores in China by the end of 2019, which would take it past Starbucks, which has long dominated the Chinese coffee market and currently has over 3,600 stores in the country.

Many Luckin units are much smaller “points of presence” and not comparable to full-service Starbucks cafes, Johnson said.

Johnson, who replaced Howard Schultz as Starbucks chief executive in April 2017, said he expects the company to be able to repeat last quarter's growth in China due to what he described as "a first-mover advantage" in the Asian giant.

"I think we will simply because much of that growth, it's about building new stores," he said, noting that Starbucks opens a new store every 15 hours on average in China.

Johnson added that "thus far" U.S-China trade tensions has not affected the company's bottom line.

"We haven't seen much impact," he said.

This week, Johnson was visiting Mexico, Starbucks' biggest market in Latin America with over 700 stores, and touted the company's long-standing relationship with Mexico City-based operator Alsea.

Alsea operates over a 1,000 Starbucks stores across Mexico, Argentina, Chile, Colombia and Uruguay, and late last month announced its acquisition and expansion of the Starbucks brand into Europe, including France.

The company expects around 35 percent of its total sales will come from Europe this year, while about 45 percent will come its core Mexican operations.

Alsea's new store growth this year is expected to increase by about 6 percent compared to 2018, according to company officials.

(Reporting by David Alire Garcia; Editing by Stephen Coates)

By David Alire Garcia


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
ALSEA, S.A.B. DE C.V. 2.52% 28.44 End-of-day quote.-42.93%
BYD COMPANY LIMITED 1.50% 175.5 End-of-day quote.351.74%
EURO / ARGENTINE PESO (EUR/ARS) 0.27% 99.1336 Delayed Quote.47.04%
JOHNSON & JOHNSON 0.62% 149.92 Delayed Quote.2.15%
LINE CORPORATION 0.19% 5380 End-of-day quote.0.56%
STARBUCKS CORPORATION 2.69% 102.8 Delayed Quote.12.50%
WORLD CO., LTD. -1.39% 1351 End-of-day quote.-49.80%
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Financials
Sales 2020 39 776 M 2 009 M 2 009 M
Net income 2020 -3 808 M -192 M -192 M
Net Debt 2020 51 566 M 2 604 M 2 604 M
P/E ratio 2020 -5,23x
Yield 2020 0,00%
Capitalization 23 849 M 1 199 M 1 205 M
EV / Sales 2020 1,90x
EV / Sales 2021 1,45x
Nbr of Employees 66 006
Free-Float 65,7%
Chart ALSEA, S.A.B. DE C.V.
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Alsea, S.A.B. de C.V. Technical Analysis Chart | MarketScreener
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Technical analysis trends ALSEA, S.A.B. DE C.V.
Short TermMid-TermLong Term
TrendsBullishBullishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Average target price 27,04 MXN
Last Close Price 28,44 MXN
Spread / Highest target 40,6%
Spread / Average Target -4,92%
Spread / Lowest Target -47,3%
EPS Revisions
Managers
NameTitle
Alberto Torrado Martínez Chairman & Chief Executive Officer
Rafael Contreras Grosskelwing Chief Financial Officer
Salvador Aponte Escalante Director-Information Technology
Xavier Mangino Dueñas Secretary & Director
Armando Torrado Martínez Director
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