By Shawn Lim

American coffee house chain Starbucks is set to make a long-term investment in China, which is its fastest-growing market outside the United States, after the Seattle-based company posted quarterly profit that just matched analysts’ estimates on Friday.

The company also announced that would close all 379 of its Teavana stores, which it acquired in 2012, according to a report in Reuters.

The report about Starbucks’ financial health is the first under new chief executive officer Kevin Johnson, who took over the role from co-founder Howard Schultz in April.

Sales in its US cafes that open at Read full story ›

Source: The Drum