Starbucks Coffee Japan Ltd. said Thursday its profit for the first half of fiscal 2003 plummeted 58 percent to 93 million yen due to costs associated with closing unprofitable stores.
The Japanese unit of the Seattle-based operator of the world's largest chain of espresso bars said it had seen signs of recovery in same-store sales in recent months.
In the April-September period, sales from stores that have been open for at least a year fell 15 percent from a year earlier.
But the opening of new outlets boosted operating profit 17 percent to 752 million yen, and revenue grew 8 percent to 29.73 billion yen.
The company said revamping its food menu, introducing new drinks and cutting costs helped the chain weather an otherwise tough period.
The chain opened 32 new outlets during the six-month period, bringing the total to 485.