Starbucks to open 12,000 new stores by 2021

Starbucks has unveiled a five-year growth plan under which it plans to open 12,000 more stores around the world, including several high-end coffee shops, while targeting annual revenue growth of 10%.

Reuters reports the coffee chain plans to add the additional stores globally by 2021 and target comparable sales growth in mid-single digits and profit growth of 15% to 20% a year.

The world’s largest coffee chain also unveiled a new feature within its mobile app that uses voice command or messaging to place orders. The feature will be tested first on Apple Inc’s iOS operating system in early 2017, Starbucks announced at its investor conference taking place today.

The company also plans to open an outlet of its high-end coffee chain, Reserve Roastery and Tasting Room, in Europe, bringing the number to five globally.

Details of that launch will be announced early next year, the company says. Starbucks has roughly a dozen stores in and around Baton Rouge.

Reuters has the full story.

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