Starbucks plans to open 17,000 new coffee shops

Starbucks has announced large-scale plans to expand its network. By 2030, the company plans to open about 17,000 new coffee shops around the world, thus increasing the network from the current 38,000 establishments to 55,000.

Management also plans to increase the number of working hours for baristas and offer them higher wages. Starbucks finished the third quarter of this year with sales growing by 11% to $9.4 billion (9 billion euros). The company noted that sales outside the United States increased by 5% as the chain's customers returned to establishments after lengthy lockdowns.

In addition, a significant portion of the chain’s revenue came from newly opened coffee shops in China, despite the fact that in the Middle Kingdom the average number of orders decreased by 3%. Despite the strong results in the last quarter, Starbucks CEO Laxman Narasimhan plans to save another $3 billion over the next three years. He expects to achieve this by optimizing supply chains and increasing the efficiency of open points.