Starbucks To Open Its First Cafe In Uruguay In 2018

Starbucks Corp. said Tuesday that it will open its first restaurant in Uruguay in 2018. The company has reached a licensing agreement with longtime partner Alsea, a restaurant operator for Latin America and Spain, to develop and operate the new stores. The two companies have worked together since 2002 with 841 Starbucks restaurants in Mexico, Argentina, Chile and Colombia. The first Uruguay cafe will be in Montevideo. Other Alsea restaurants include Domino's Pizza Inc. , Cheesecake Factory Inc. and Restaurant Brands International Inc.'s Burger King. Starbucks shares are up 0.5% in premarket trading, and up 11.1% for the past year. The S&P 500 index is up 22% for the last 12 months.