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Starbucks is offloading majority control of its China business to Boyu Capital for $4 billion, eyeing a jump from 8,000 to 20,000 stores amid fierce local competition.

Starbucks (NASDAQ: SBUX) shares rose 1.4% in pre-market trading on news of a strategic overhaul in its Chinese operations. The company is exploring partnerships with private equity firms to strengthen its presence amid rising competition.

Starbucks (NASDAQ: SBUX) reveals strong FY3Q24 earnings, with an EPS of $0.93, amid competitive pressures. Strategic partnerships in China and improved margins signal optimism for FY24, despite cautious consumer spending. Analysts maintain varied price targets, reflecting mixed sentiment.