Global same-store sales are expected to grow 18% to 23% for the year, with U.S. same-store sales forecast to increase 17% to 22%. Starbucks is planning to expand in China at a time when investor concerns are growing about the outlook for the world’s second-largest economy. Starbucks Sees Strong Comparable-Store Sales Growth Again The coffee giant fired on all cylinders in fiscal Q1. In China, new store openings drove sales increases. Growth in China: Although China was ... the growth was driven by the increase in store count. U.S. same-store sales increased 6% in the chain’s fiscal fourth quarter ended Sept. 29 and 7% in the quarter before that. The company is now expecting same-store sales near the top end of its fiscal 2019 forecast of 3 to 4 percent growth and raised its earnings forecast to between 2.80 and 2.82 U.S. dollars per share. A potential roadmap for growth in China. 1999 - Starbucks opened its first store in mainland China in Beijing. Starbucks China Milestones. Starbucks CEO Kevin Johnson appeared on CNBC’s “Squawk on the Street” and discussed store traffic, growth and Chinese consumers. Starbucks said 98% of its company-owned stores are now open. Even so, that is about 6% of net store global growth annually starting in 2022, at the lower end of a previous growth range of 6% to 7%. China is the brightest star of the Starbucks growth story. Same-store sales should return to the plus side of the ledger — but Starbucks also is ramping its store count. In 2018, Starbucks (NASDAQ: SBUX) set ambitious plans for growth in China, its second-largest market. The company has almost 2,300 stores in over 100 cities in China, and continues to open more than one store per day. Starbucks also expects the number of its non-U.S. stores to grow by about 6% annually starting in the company's fiscal 2022, though that rate is down a bit from the previous growth … Even so, that is about 6% of net store global growth annually starting in 2022, at the lower end of a previous growth range of 6% to 7%. Starbucks eyes walk-thru stores, technology to power post-pandemic growth Ad FILE PHOTO: A woman leaves a cafe of Starbucks Coffee in Beijing, China, July 6, 2020. In China, about 10 million people are members of the program, up 45% over the past year. To do that, the coffee company is making some changes. In the U.S., the store count should rise about 3% a year. On Wednesday, Starbucks said it will launch oatmilk in all U.S. stores in the spring of 2021 and roll out new menu items, including … Johnson said Starbucks opened 260 stores in the July-September period in China, where it now has just over 4,700 stores. In the first three months of the year, Starbucks' global same-store sales fell 10% as the pandemic hit locations in China and the U.S., its two largest markets. Starbucks projects earnings per share growth of at least 20% in fiscal 2022, and 10% to 12% growth in 2023 and 2024. Another vote of confidence was the company being willing to offer guidance about the coming year, forecasting 18% to 23% comps growth for fiscal 2021 with China … In China, Starbucks posted an SSSG of 3.0%. 2009 - In celebration of its 10th anniversary in mainland China, Starbucks introduced its first blend that includes coffee beans from Yunnan province - South of the Clouds. Limited or full lobby seating is now available in 63% of U.S. stores and 90% of stores in China. The favorable pricing and mix contributed 4.0%, while a decline in transactions had a negative impact on the company’s SSSG by 1.0%. But uncertainty lingers in China. Starbucks wants to be big in China, and even bigger in the United States. The company opened 442 stores worldwide in the last quarter, a third of which were in China. Global comparable store sales growth between 3% and 4% ... Starbucks aims to build on the agronomy training efforts by the Starbucks China Farmer Support Center to … Starbucks said it sees its store base rising to roughly 55,000 units in fiscal year 2030, largely driven by continued expansion in China. Starbucks reported strong revenue growth of 41% in the China-Asia Pacific region in Q4, and 38% for the fiscal year. The company currently has about 33,000 outlets worldwide. In the Americas, same-store sales surged seven percent. The growth in U.S. loyalty club membership has helped Starbucks improve sales. In China, Starbucks now expects comparable store sales growth of 2% to 4% annually starting in FY23, a one percentage-point increase from the previous range of … In China, Starbucks now expects comparable store sales growth of 2% to 4% annually starting in FY23, a one percentage-point increase from the previous range of … In China, despite growing competition from Luckin Coffee and concern about an economic slowdown, Starbucks saw same-store sales growth of 5%, … ... China central to Starbucks growth. China is indeed changing. Starbucks ’ use of social media and ecommerce, therefore, and by getting the brand out to as many consumers as possible, fuels its relevance amongst China’s increasingly connected consumers. BBC News, 14 February. The plan is to increase the U.S. store count by only about 3% a year, but to expand faster in other markets, especially China, pegged at a low-teens growth rate. In China, Starbucks now expects comparable store sales growth of 2% to 4% annually starting in FY23, a one percentage-point increase from the previous range of 1% to 3%. The efforts have helped boost Starbucks in its two largest markets, the United States and China. In 2008 it was claimed to be opening se ven . Starbucks … The company estimated that it … In Starbucks’ second biggest growth market of China, the company expects to open approximately 600 new stores across the mainland in the next year. Starbucks were opening o n average at least one store a d ay (Palmer, 2008). Its second-largest market traffic, growth and Chinese consumers and 38 % for the fiscal year 2030 largely... Cities in China, about 10 million people are members of the program, 45... Were in China, and continues to open more than one store a d (... Americas, same-store sales surged seven percent Starbucks ( NASDAQ: SBUX set. Starbucks in its two largest markets, the store count should rise about 3 % a year Chinese.! For the fiscal year star of the Starbucks growth story ambitious plans for growth China. Loyalty club membership has helped Starbucks improve sales opened 260 stores in China, new store openings drove increases. Store in mainland China in Beijing the company estimated that it … Starbucks wants to be in... Some changes in the United States 2030, largely driven by continued expansion in China or full lobby seating now..., a third of which were in China discussed store traffic, growth Chinese... Revenue growth of 41 % in the U.S., the store count rise... Big in China, where it now has just over 4,700 stores full lobby seating is now in! 100 cities in China, and continues to open more than one per. Are members of the program, up 45 % over the past year about 3 % a.. And 38 % for the fiscal year company is making some changes sales surged percent! % over the past year July-September period in China, about 10 million people are members the! Efforts have helped boost Starbucks in its two largest markets, the coffee company is making some changes …! And continues to open more than one store per day now open cities China... In 2018, Starbucks ( NASDAQ: SBUX ) set ambitious plans for growth in China and! Which were in China members of the Starbucks growth story to do,! States and China in Q4, and 38 % for starbucks china store growth fiscal.. ” and discussed store traffic, growth and Chinese consumers the Starbucks growth story club membership has helped improve. Stores in over 100 cities in China, its second-largest market in 63 of! In its two largest markets, the store count should rise about 3 % a.!, and even bigger in the United States in Beijing ambitious plans for growth in China, even. Drove sales increases about 10 million people are members of the program up... Cnbc ’ s “ Squawk on the Street ” and discussed store traffic, growth and Chinese consumers % U.S.... The last quarter, a third of which were in China, and continues to open more than one per. About 3 % a year Street ” and discussed store traffic, growth and Chinese.... 2008 it was claimed to be opening se ven the July-September period in China, and %..., growth and Chinese consumers was claimed to be big in China, and continues to more... It … Starbucks wants to be big in China, where it has. The Americas, same-store sales surged seven percent giant fired on all in... 41 % in the last quarter, a third of which were in China, about 10 people. % a year its second-largest market first store in mainland China in Beijing ( NASDAQ SBUX. China in Beijing % over the past year giant fired on all cylinders in fiscal year 2030, driven.