Starbucks to open 1,500 more cafes in US
NEW YORK (AP) — Another Starbucks may soon pop up around the corner, with the world's biggest coffee company planning to add at least 1,500 cafes in the U.S. over the next five years.
The plan, which would boost the number of Starbucks cafes in the country by about 13 percent, was announced at the company's investor day in New York today. Taking into account Canada and South America, the company plans to add a total of 3,000 new cafes in its broader Americas region.
Worldwide, the company says it will have more than 20,000 cafes by 2014, up from its current count of about 18,000. Much of that growth will come from China, which the company says will surpass Canada as its second-biggest market.
Although Starbucks has been intensifying its growth overseas and building its packaged-goods business back at home, the majority of its revenue still comes from its more than 11,100 cafes in the United States.
In an interview ahead of its investor day, CEO Howard Schultz said the U.S. expansion plans are based "on the current strength of our business"