Starbucks Exploring Sale of U.K. Arm, the Sunday Times Reports

--Starbucks Corp. is exploring a possible sale of its U.K. operations, as it battles rising costs and new competitors, the Sunday Times reports.

--The coffee chain has asked adviser Houlihan Lokey to explore interest for the U.K. business, which employs 4,000 people across more than 1,000 coffee shops, the Sunday Times reports.

-- The U.K. arm, Starbucks Coffee Company UK, reported a pretax profit of 13.3 million pounds ($15.8 million) in the year ended October 2021, along with reported sales of GBP328 million, the Sunday Times reports.

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(END) Dow Jones Newswires

07-18-22 0216ET