Starbucks opens its first coffee shop in Argentina

MEXICO CITY (Reuters) - Starbucks has opened its first coffee shop in Argentina, the company's Mexican partner said on Monday, part of an overseas expansion plan that could offset slower sales in a slumping U.S. market.

Mexican fast-food franchiser Alsea (ALSEA.MX) said in a statement to the Mexican stock exchange that it is opening the Starbucks (SBUX.O) store in a shopping center in Buenos Aires.

Alsea, which also operates Domino's Pizza (DPZ.N) and Burger King (BKC.N) restaurants, said it wants to open two more stores in Argentina this year.

The franchiser runs over 200 Starbucks stores in Mexico as well as branches in Chile and Brazil. It is opening the store in Argentina through a joint venture with a Starbucks subsidiary.

Starbucks is increasing its global reach as trouble mounts at its U.S. stores. The company said last month it would slash U.S. store openings as it adjusts to slower U.S. growth.

(Reporting by Mica Rosenberg; Editing by Gary Hill)