1. News
November 2, 2018

Starbucks to open 2,100 new stores globally

Global coffeehouse chain Starbucks has revealed plans to open 2,100 new stores across the globe in 2019.

Global coffeehouse chain Starbucks has revealed plans to open 2,100 new stores across the globe in 2019.

The coffee retailer has added 600 new stores in the fourth quarter making the total store count to 29,324 stores across 78 markets globally.

The number of net new stores opened in fiscal 2018 was 1,985, which include the net closure of 313 Teavana-branded stores. In 2017, the company opened 2,254 net new stores.

Starbucks CEO Kevin Johnson said: “As we enter fiscal 2019, we are executing against a clear growth agenda, with a focus on our long-term growth markets of the US and China.

“I’m incredibly proud of our 350,000 Starbucks partners around the world and pleased with the continued progress in our growth agenda.”

“I’m incredibly proud of our 350,000 Starbucks partners around the world and pleased with the continued progress in our growth agenda.”

Starbucks has reported $24.7bn in consolidated net revenues for the fiscal year 2018 ending 30 September, up by 10% over the prior year and adjusted for an approximately 2% net benefit from streamline-driven activities.

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The activities include the consolidation of the acquired East China business, partially offset by Teavana mall store closures, the conversion of certain international retail operations from company-owned to licensed models, licensing its CPG and foodservice businesses to Nestlé.

In August this year, Starbucks signed a strategic ‘New Retail’ partnership with e-commerce major Alibaba Group Holding to transform to transform e-commerce by merging online and offline experiences.

As part of the deal, Starbucks collaborated with various businesses within the Alibaba ecosystem, including Ele.me, Hema, Tmall, Taobao and Alipay on various initiatives.

In May this year, the company also announced plans to build 3,000 new stores in mainland China over the next few years.