Starbucks officials raised their long-range goal yesterday from 30,000 to 40,000 stores worldwide, with a split of 20,000 inside the U.S. and 20,000 international locations. The international expansion will focus on expanding in China, and opening stores in Brazil, Russia, India, and Egypt. The company also plans to roll out hot breakfast sandwiches in nearly all locations due to a successful pilot this past year.
Anne Saunders, senior vice president for global strategy, said, "The customer base is broadening and becoming more diverse". Starbucks has experienced growth in several important demographics - women, Hispanics, and non-college graduates.
Investors drove the company's stock up $2.73 yesterday to $38.69, a 7.6% increase.
WSJ.com
Reuters
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