Starbucks confirms new US airport concession partners
Starbucks confirms new airport partners after ending exclusive partnership with HMSHost
Starbucks will work with other airport foodservice partners across the country after ending its exclusive partnership with concessionaire HMSHost, a spokesperson confirmed to FOX Business.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SBUX | STARBUCKS CORP. | 87.84 | -0.91 | -1.03% |
HMSHost announced Monday it will work with local coffee shops across the country after ending its agreement with Starbucks, which had been in place since 1991. Travelers across the country can expect to see local pop up coffee shops in the next few years. Starbucks said licensing deals are in place, but would not reveal which airport concessionaires are confirmed for its expansion.
AMAZON, CAFES DRIVING PLANT-BASED COFFEE CREAMER SALES
Starbucks’ stock has jumped 7 percent in the last three months and is up 27 percent on the year. Shares closed at $88.38 on Tuesday, up a $1.29 a share from the opening bell.
Starbucks confirmed it will work with other airport foodservice partners after ending its exclusive partnership with HMSHost.
“Though no longer our exclusive airport industry licensed partner, we will continue to do business together with HMS Host,” a spokesperson for Starbucks said Tuesday. “The expansion to other operators will expand our presence at airports.”
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FOX Business staff writer Shawn Carter contributed to this report.