Starbucks Australia posts AU$5.8m loss amid expansion drive and weaker consumer spend

Chairman Michael Smith says the licensee remains focused on expansion, despite new store development and the high cost-of-living hindering profitability

Starbucks Australia’s bid to reinvigorate growth has hit turbulence after the licensed business posted a AU$5.8m ($3.7m) loss for the 12 months ended 30 June 2024.