Mar
23

Starbucks Aims for 3,500 New Stores

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starbucks openingStarbucks Corp. remains highly bullish on expansion. In remarks at the company’s annual shareholders meeting, the coffee giant revealed that over the next five years it plans to open 3,500 locations in its Americas region and 8,000 new stores in foreign markets. And just in case you were wondering … Starbucks noted that Shanghai has more Starbucks stores than any other city in the world in which it operates.

Speaking at the meeting, Cliff Burrows, group president of the Americas and Teavana, said the past year has been “a tremendous year for growth (for Starbucks) – in fact probably the best.”

“We are currently at just over 14,000 stores across the Americas and that number will grow by 3,500 over the next 5 years,” Burrows said.

Starbucks is opening a new smaller, take-away only footprint especially focused on meeting the demands of customers in urban locations during the morning peak. The first Express location is scheduled to open in the company’s second quarter, in New York, with four additional stores on tap by year end, now open in Manhattan.

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