Starbucks Corp. said Thursday that it has entered an agreement with Caribbean Coffee Traders Limited, a consortium led by the Margaritaville Caribbean Group, to open Starbucks cafes in Jamaica. Caribbean Coffee Traders will have the exclusive rights to own and operate stores on the island, with the first one to open in Montego Bay. Margaritaville Caribbean Group's portfolio of brands includes Wendy's , Dairy Queen, Domino's Pizza and Cinnabon. Starbucks shares are nearly flat in Thursday trading, and up 9% for the year so far. The S&P 500 index is up 6.5% for 2017 to date.
Copyright © 2017 MarketWatch, Inc.
Continue Reading Below