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The group announced it expects to make losses for the half-year ended August 31.
Taste Holdings, which owns Starbucks and Domino’s Pizza, reported a loss of R65m in its interim financial results, mainly driven by a sales drop across almost all categories.
Taste Holdings share price tumbled 10% following the release of its financial results.
Starbucks South Africa subsidiary owner Taste Holdings says it is focusing on mastering the "Starbucks experience" before launching new stores.
Scores of Johannesburg's caffeine crowd have lined up in the shopping hub of Rosebank to buy their first cup of Starbucks coffee in sub-Saharan Africa.
Taste Holdings will focus on opportunities offered by acquisitions and development agreements, says CEO Carlo Gonzaga at the announcement of interim results.
The holding company that is bringing the iconic international coffee brand to South Africa has explained how and why the concept will take off.
Taste Holdings has acquired watch and jewellery retailer Arthur Kaplan to complement its strategy for competing in the upper income consumer market.
The retail management group Taste Holdings has broadened its reach into the lower income market by acquiring Zebro's Chicken.
Taste Holdings, which owns international franchises Starbucks and Domino's Pizza, has announced the resignation of CEO Carlo Gonzaga.
Taste Holdings could spend as much as R328m on building up to 41 more Starbucks shops in Johannesburg, Pretoria, Durban and Cape Town, says CEO Carlo Gonzaga.
Despite recording a loss during the interim period to August 2016, Taste Holdings has experienced significant gains in its licensed brand strategy, it says.
Sell in May and go away has never gained any real academic backing, says investment analyst Kirk Swart, cautioning investors to not take this strategy too seriously.
Starbucks coffee chain says it will open its first two cafes in South Africa in April, marking its entry into sub-Saharan Africa.
Taste Holdings sees potential for more than 200 Starbucks coffee shops in South Africa within five years, it said this week.
Taste Holdings has boosted its core revenue by 25% and Domino’s Pizza outlets have exceeded expectations.
The directors of Taste Holdings have issued a trading statement regarding upcoming results substantially earlier than in prior years.
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