Starbucks is exploring options for its China business, including a potential stake sale, and has gauged interest from local private equity firms, it was reported on November 21. Starbucks stated its commitment to developing its China operations and exploring strategic partnerships. In Q4, Starbucks China reported $783.7 million in net revenue, up 6% QoQ, but in fiscal 2024, revenue fell 1.4% YoY to $2.96 billion. Same-store sales declined 8%, with flat transaction volume and an 8% drop in average ticket size. Starbucks added 290 stores in Q4, bringing its total to 7,596 across nearly 1,000 county-level markets.