Dive Summary:
- With profits up 12%, Starbucks has announced that its target is to open 1,300 new stores worldwide including in the China/Asia Pacific.
- The successful quarter can be attributed to an underlying strength in their core business and the successful debut of Verismo, the newest growth platform.
- Troy Alstead, Starbucks CFO, cites the success to strong momentum and excellent holiday results in addition to Verismo.
From the article:
"...Starbucks also reaffirmed its fiscal 2013 targets, which include the opening of approximately 1,300 net new stores globally, representing 22% growth over fiscal 2012. Approximately 600 of the new stores will be located in the Americas, with the majority in the United States. Of the approximately 600 stores, approximately half of the additions will be licensed stores..."
