Starbucks ups long-term store target to 40,000

06 October 2006 by
Starbucks ups long-term store target to 40,000

US coffee-bar giant Starbucks has increased its long-term store target to 40,000 worldwide.

The company, which previously had a target of 30,000, said the stores would be split 50/50 between the US market and its international division.

Starbucks expects to have about 20,000 stores by the end of next year.

Martin Coles, president of Starbucks Coffee International, said: "The company's entrance into the three large markets of Brazil, Russia and India, as well as establishing our first African location, will propel Starbucks International expansion towards its long-term store potential of 20,000 locations."

Starbucks opened more than 2,000 stores in the year to 1 October.

In the year turnover was 22% higher than the previous year at $7.8b (£4.16b), and store like-for-like sales were 7% ahead.

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By Chris Druce

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