Starbucks ‘Tank Day’ fallout drags Emart into red

The fallout from Starbucks Korea’s controversial May 18 “Tank Day” campaign helped push Emart to a consolidated operating loss of 43 billion won ($30.4 million) in the second quarter, despite double-digit profit growth at several of the retail conglomerate’s core businesses. Starbucks Korea posted sales of 747.3 billion won and an operating loss of 18.4 billion won in the April-June period, Emart said Thursday. Emart holds a 67.5 percent stake in SCK Company, the operator of Starbucks Korea. The

By The Korea Herald