SBUX News & Events

Highlights include: Up to 5,000 new coffeehouse opportunities across the U.S. alone, and, as average unit volumes grow, that number could double over time; Double its international coffeehouse footprint over time, approaching 40,000 locations outside the U.S., driven by achieving between 15,000 to 20,000 new coffeehouses in China; Accelerate international licensed store growth, with international coffeehouses expected to grow at double the rate of North America "Even with our scale, the U.S. coffeehouse growth opportunity for Starbucks is big and broad," said COO Mike Grams. "In fiscal 2028, we expect to ramp to build about 400 net-new coffeehouses across our U.S. company-operated business - with discipline and purpose." Starbucks also highlighted its China joint venture with Boyu Capital, shifting the market to a licensed model while retaining a 40% stake.

COO Mike Grams detailed how Starbucks is becoming a more consistent, customer centric, coffeehouse-first operating company through Green Apron Service, which includes targeted investments in partners, equipment and technology. The company said, "Key initiatives include: Smart Queue to intelligently sequence cafe, mobile, drive thru and delivery orders, ensuring timely service across all channels; Leveraging artificial intelligence to support partners, including supply chain and scheduling tools; Next-generation espresso equipment like the proprietary Mastrena 3 to unlock additional growth. These initiatives continue to drive faster service while enabling partners to focus on coffee craft and customer connection. Peak throughput increased in the first quarter of fiscal 2026 to less than four minutes on average across cafe and drive-thru coffeehouses."

Starbucks shared a long-term financial framework built on consistent comparable sales growth, disciplined coffeehouse expansion and operating leverage. In fiscal 2028, the company expects to deliver: 5% or greater consolidated net revenue growth; 3% or greater global and U.S. comparable store sales growth; 2%-3% consolidated revenue contribution from new stores; Over 2,000 net new stores across the global company-operated and licensed portfolio, including approximately 400 net new U.S. company-operated stores; Non-GAAP consolidated operating margin of 13.5%-15%; Non-GAAP Earnings Per Share of $3.35-$4.00. "Starbucks has enduring strengths and we are building on them," said Cathy Smith, CFO. "Our financial framework shows how we will translate our 'Back to Starbucks' strategy into sustainable, profitable growth and compelling shareholder returns."