Starbucks outlines long-term opportunities for global growth beyond FY28

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 (SBUX) 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.