Starbucks Corp. said Tuesday that the first of its Starbucks Roastery locations in the Europe, Middle East and Africa regions will open in Milan in 2018. It will be the fifth location in the world. The Starbucks Roastery is a large retail space where rare coffees are roasted and tasted. The Milan Roastery will be in a 25,500-square-foot former post office on Piazza Cordusio. In time, Starbucks plans to open 20 to 30 Roastery locations around the world. Along with its business partner Percassi, Starbucks will also open a number of smaller cafes in Milan in 2018, hiring 350 employees in Italy. A Starbucks Roastery is heading to Shanghai in 2017 and New York and Tokyo in 2018. Starbucks shares are nearly flat in premarket trading, and down 2.7% for the past year. The S&P 500 index is up 21.7% for the last 12 months.
Continue Reading Below
Copyright © 2017 MarketWatch, Inc.