CHICAGO-Starbucks Inc. outlined its plans for a 30,000-store chain in the US and internationally during a presentation at the William Blair & Co. 26th Annual Growth Stock Conference. Michael Casey, EVP and CFO of the Seattle-based company, told the gathering that Starbucks stores will continue to be the main driver of growth, but its growing food business and products sold in other retail stores will be just some of the other brand extensions that will add momentum to what is already a retail juggernaut.

With Starbucks already operating 11,500 stores in the US and abroad, the company is opening five new stores per day seven days a week, Casey pointed out. He said the company is on track to open 1,800 new stores this fiscal year.

“We now have the organizational capability and the market opportunity to add stores in the future at a faster pace,” Casey said. He described Starbucks’ future as “one of global expansion, both in our retail store business and in expanding our brands to new products and through new distribution channels.”

Despite the aggressive pace of new-store openings, Casey noted, Starbucks has posted steady same-store growth throughout its history and expects to continue to do so this year. He said 2006 will be the 15th consecutive year of comp-store sales growth of 5% or higher for the chain.

“To the best of our knowledge, this kind of comp-store growth is unprecedented,” Casey said, pointing out that “Average unit sales have continued to grow despite the aggressive new store count,” and now surpass $1 million, he said.

To reach its goal of 30,000 stores, the company will continue to open new locations in “a combination of infill in existing markets and entering new markets,” including international markets, such as China, where the chain has only about 400 stores today. Other international markets on the company’s list include Brazil, Russia and India, with the first store in Brazil expected to open in early 2007.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.