Starbucks aims for 40,000 locations worldwide

By MARY JANE CREDEUR, Bloomberg News
Posted Thursday, March 22, 2007

Starbucks Corp., the world's largest coffee-shop chain, will open at least 10,000 new stores over the next four years and double its size within five years, Chairman Howard Schultz said Wednesday.

Starbucks is serving 45 million customers a week, Schultz said at the company's annual meeting in Seattle, where it is based. Starbucks's long-term goal is to have 40,000 locations worldwide, compared with 13,168 stores at the end of 2006.

Starbucks has added breakfast sandwiches and entertainment offerings such as books to boost sales of items other than espresso drinks. Schultz said he'll continue to challenge the status quo at Starbucks, affirming comments he made in a February memo that was leaked to the media.

"I have written hundreds of memos, and there is a common thread of self-examination, pursuit of excellence, a willingness to constantly challenge yourself and not embrace the status quo," said Schultz, who has been with the company for 25 years. "It was not a memo that was intended to be in any way critical of or demonstrate a lack of faith in management."

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