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Starbucks talks future strategy at Investor Day event

Dec. 07, 2016 8:24 AM ETStarbucks Corporation (SBUX) StockBy: Clark Schultz, SA News Editor31 Comments
  • Starbucks (NASDAQ:SBUX) management is presenting today in New York City at the Investor Day event. Some key updates and product reveals have already been disclosed.
  • The financial highlights from SBUX include 5-year targets for 10% revenue growth, 15%-20% EPS growth and mid-single digit comparable sales growth growth annually.
  • Starbucks says it plans to open 12K stores globally by 2021.
  • The company notes that it's on track to open more than 5K stores in China by 2021 and expects that China will eventually be a bigger market than the U.S.
  • The channel development segment is expected to generate an incremental $1B in revenue, increase operating income by 75% and double its ready-to-drink business outside of the U.S.
  • Starbucks aims to open 1,000 Reserve stores over time. Standalone Princi are also scheduled to be launched in Seattle, New York and Chicago late in 2017.
  • My Starbucks Barista is introduced as an AI-powered powered complement to the Starbucks mobile app that can help customers place their orders via voice command or messaging interface.
  • Next spring, the launch of bottled Starbucks Cold Brew Cocoa and Honey with Cream in select markets across U.S. is planned.
  • "Industry-leading innovation is driving our core business and creating further separation from competitors all around the world," says CEO Howard Schultz. The exec is expected to outline the upside for the Roasteries and Starbucks Reserve stores later during the conference.
  • SBUX -0.16% premarket ti $57.35.

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