Company to double number of new units to 500 in FY 2011
Starbucks is ramping up its growth plans. The Seattle-based purveyor of upscale coffees and other beverages says it will open 500 new locales in its 2011 fiscal year – double the number it plans to open during its current year. Roughly 80 percent of the company's new locales will be overseas, where the company plans 400 new outlets in 2011.
Starbucks disclosed its expansion plans for the coming year in its third-quarter earnings report for 2010, during which it reported an earnings increase of 37 percent over the year-ago period. Those results “reflect a continuation of the strong performance and momentum we have been driving across our businesses around the world,” said Howard Schultz, chairman, president and ceo.
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