- Nathan Myhrvold born (1959)
Starbucks to Expand by 1500 Stores in the U.S.
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Starbucks recently announced its plans to open 1,500 more cafes in the U.S. over the next five years. The expansion will boost the amount of American Starbucks cafes by about 13 percent. The company is also expanding from 18,000 cafes to 20,000 worldwide, due to growth in China, though the bulk of the company’s revenue still comes from the company’s American stores.
The news of the recent expansion is a sharp contrast to the widespread restructuring that occurred in 2008, which forced Starbucks to close 10 percent of its U.S. shops during the recession. Since then, the company has regained footing and shown great market improvement. CEO Howard Schulz calls the plans for expansion a reflection “on the current strength of our business.”
With the expansion comes a few changes for the company, so expect to see a new and improved Starbucks over the next five years. One of the biggest changes is their tea menu, which will include its recently required brand Teavana, a mall favorite which will soon be taking over their stores. The stores will also switch up the food menus with pastries by the acquired San Francisco chain La Boulange, which will provide new croissants, loaf cakes, and baked goods.
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