Starbucks Outlines Strategy

CHICAGO-Starbucks Inc. outlined its plans for a 30,000-store chain in the US and internationally during a presentation at the William Blair & Co. 26th Annual Growth Stock Conference. Michael Casey, EVP and CFO of the Seattle-based company, told the gathering that Starbucks stores will continue to be the main driver of growth, but its growing food business and products sold in other retail stores will be just some of the other brand extensions that will add momentum to what is already a retail juggernaut.

With Starbucks already operating 11,500 stores in the US and abroad, the company is opening five new stores per day seven days a week, Casey pointed out. He said the company is on track to open 1,800 new stores this fiscal year.

“We now have the organizational capability and the market opportunity to add stores in the future at a faster pace,” Casey said. He described Starbucks’ future as “one of global expansion, both in our retail store business and in expanding our brands to new products and through new distribution channels.”