Starbucks targets, to open 12,000 more stores globally

In What’s Happening in Retail by Elargirindia0 Comments

Starbucks has always pushed boundaries. Earlier this year its mobile app killed queuing for tens of thousands of customers, but now Starbucks wants to go even further. Pretty soon, Starbucks is going to have to build new cities to fit all its stores.

The company, which has 25,000 stores worldwide, told investors yesterday that it plans to open 12,000 stores globally by 2021 and target comparable sales growth in mid-single digits and profit growth of 15-20 percent a year.

The company plans to open a roastery and tasting room in Shanghai next year, followed by launches in Tokyo and New York City in 2018.

Starbucks also said it would accelerate the opening of Reserve coffee “bars” selling premium coffee within Starbucks cafes to 7,400 stores by 2021. The company had set a target of opening these bars in up to 1,000 cafes by the end of 2017.

Starbucks also is about to launch a new line of bottled Teavana Craft Iced Teas in a partnership with Anheuser-Busch InBev. Four fruit-flavored iced tea varieties will be introduced in a category that Starbucks says is a $4 billion market potential.

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