November 4, 2012

Starbucks to open 1,300 stores globally

US coffeehouse chain Starbucks plans to open 1,300 net new stores globally, following a 22% growth over fiscal 2012.

By admin-demo

US coffeehouse chain Starbucks plans to open 1,300 net new stores globally, following a 22% growth over fiscal 2012.

Of the proposed 1,300 stores, around 600 stores will be opened in the US.

The chain has posted an increase in its fiscal 2012 total net revenues by 14% to $13.3bn, compared to total net revenues of $11.7bn last year.

The company attributed the rise in revenues to a 7% increase in global comparable stores sales, comprising a 6% growth in the number of transactions and a 1% increase in average ticket, 50% revenue growth in Channel Development, and 20% growth in licensed stores revenue.

Its operating income for the fiscal 2012 rose by 16% to $2bn, compared to $1.7bn in fiscal 2011, while its net income was up $1.4bn, an increase from $1.24bn a year ago.

For the fourth quarter for 2012, the coffee chain’s total revenues increased by 11% to $3.4bn, compared to $3bn in the corresponding quarter of 2011. Its net income for the period was $359m.

During the period, the chain has opened 20 La Boulange company-operated caf├ęs in the fourth quarter of fiscal 2012 and the closed 248-licensed Seattle’s Best Coffee outlets in Borders Bookstores in the fourth quarter of fiscal 2011.

Starbucks chief financial officer Troy Alstead said that the company drove sales growth and expanded profit margins by delivering relevant innovation to its customers while increasing focus on execution and operating efficiencies.

"On the strength of our business in fiscal 2012 and the momentum we carry into the new fiscal year, we remain confident in our fiscal 2013 outlook of continued strong profitable growth on a global scale," Alstead added.

Founded in 1971, Starbucks operates more than 17,000 outlets in over 50 countries.