Starbucks Wants To Open 2,100 New Stores In 2019

Coffeemaker Starbucks is planning to open 2,100 new restaurants globally next year.The company plans to open them in China and America its two biggest markets.It wants to almost double its number of coffee shops in the world’s second largest economy to 6,000 before the end of 2022 after this year’s growth in China went through the roof.

They announced in May that they plan to build 3,000 new stores in mainland China after shares of the company jumped around 9% after positive earnings report.Starbucks is also adapting to how consumers want to get their coffee in America by making more than 80% of their new stores into drive-thrus. This is after the brewer noticed that drive-thrus outperform traditional cafes.The company announced their plans with the world after releasing its fourth-quarter earnings last week.

CEO Kevin Johnson said,”In 2019 we will focus on our long-term growth markets of the U.S. and China.
Revenue grew to $6.3 billion in the quarter that ended in September, up 11% from the same time last year. In the three months ending in September comparable store sales grew by 4% in the United States and 1% in China.”
The company credited the strong domestic performance to rapid growth in afternoon sales, increasing employee efficiency in restaurants and customer enthusiasm for iced drinks.Starbucks has expanded its portfolio of cold drinks to include low-sugar iced teas and cold brew coffees as the sale of hot drinks have depleted rapidly.
Starbucks added 600 and 2,300 new restaurants in 2017 and 2018 worldwide respectively.The home of coffee connoisseurs has 29,300 restaurants all over the world.

Leave a Reply

Your email address will not be published. Required fields are marked *