Starbucks Corp. (SBUX) on Thursday raised its long-term expansion goal to 40,000 stores from 30,000 and said it was nowhere close to exhausting opportunities in North America, even as possibilities appear internationally.
The company, known for its ubiquity in parts of the United States, expects to have 20,000 outlets in the United States and 20,000 internationally, James Donald, chief executive, said in a meeting with analysts in Seattle.
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The world's largest coffee shop chain had 12,241 locations at the end of fiscal 2006, which ended October 1, and $7.8 billion in full-year revenue.
Starbucks said its customer base was broadening, with more Hispanics, females and less affluent and less highly-educated customers buying its coffee.
Thursday, October 05, 2006
Where's the Outrage LXIX?
For those who think Wal-Mart practices rapacious "monopoly capitalism," what do you think of this:
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2 comments:
*sigh*... I really need to get over being a dividend hound. SBUX is such a gem, but I am addicted to those quarterly cash infusions in my portfolio. 40,000 stores! Once they near that target, it'll become 50k. I should get at least a few shares so I can eventually recoup the money I've spent drinking coffee in their shops. :)
And people think Wal-Mart is the devil. Go figure.
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