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NEW YORK - Starbucks (NASDAQ:SBUX) reaffirmed its leadership position and growth agenda across its global retail, emerging brands and CPG channels at its biennial Investor Conference.
“Our past performance is not indicative of the sizable and profitable opportunity across EMEA. We have a comprehensive set of initiatives that will build on our investments over the past decade to ensure sustained and healthy profitability for the region.”
“Starbucks business and brand have never been healthier, and as a company we have never been better positioned to execute against our global, multi-channel growth agenda,” chairman, president and chief executive officer Howard Schultz said at the company’s 2012 Investor Conference. “Starbucks will have more than 20,000 retail stores on six continents by 2014 and more than 200,000 points of global CPG distribution by 2015. I am personally committed to seeing Starbucks deliver the innovation, execution and elevated customer experience necessary to achieve both these goals and remain one of the world’s most trusted and admired consumer brands.”
US and China powering global retail store expansion
Starbucks regional presidents joined Mr Schultz in outlining the tremendous opportunity that lies ahead as the company pursues disciplined, profitable growth across its global retail platform.
· Cliff Burrows, president, Starbucks Americas and US, announced that his region planned to add more than 3,000 net new stores, and renovate thousands more stores, over the next five years. At least half of the new stores are expected to be in the strong, rapidly growing US market where revenue grew by 9% in fiscal 2012. Burrows also announced plans to leverage the recently completed Evolution Fresh and La Boulange acquisitions – and to increase sales and drive customer frequency throughout the day – by making La Boulange products available in more than 2,500 US company-operated Starbucks stores and making Evolution Fresh? juices available in more than 5,000 US company-operated stores by the end of 2013.