+10 C°
Traffic jam:   5

Predictions from Starbucks for 2022-2024

11 December 2020
2 min.
Predictions from Starbucks for 2022-2024

Company forecasts

Starbucks has given high profit forecasts for 2022-2024 and confirmed its growth forecast for 2021. The global coffee chain plans to open more than 20,000 new locations in the next decade, expanding largely in the Chinese market and following changes in consumer preferences.

Starbucks (SBUX) shares, up 14.2% YTD (slightly higher than the S&P 500 index), rose after the close of trading on Wednesday. This was preceded by Starbucks disclosure of its long-term goals and plans at its biannual Investor Day online event.

Starbucks executives said they are seeing improved demand (the latest fourth quarter report also showed this) and a faster sales recovery than previously expected.

The international company has maintained its earnings per share growth forecast for the full fiscal year 2021 (starts in October 2020 and ends in September 2021): in the range of $2.70 to $2.90, compared to $1.17 earnings per share in fiscal 2020. Meanwhile, Starbucks expects earnings per share growth rates of between 10% and 12% in FY 2023 and 2024.

Starbucks CEO Kevin Johnson said: "We have further optimised the company and sharpened our focus on accelerating growth in our two leading markets in the US and China.Coffee remains a very large and attractive market that is growing globally".

The company has revealed its ambitious plans to expand the number of coffee shops by 20,000 to 55,000 outlets by FY 2030, mainly by continuing expansion in China. Currently, the company has around 33,000 coffee shops worldwide.

The company said that it intends to build more outlets to serve customers on machines, close less profitable coffee shops and open coffee shops in a "new format". Starbucks executives said coffee shops in China will open mostly without seating, focusing on sales through digital ordering and delivery. In the US, Starbucks is already closing around 800 low-margin coffee shops to follow these changes. On the menu, Starbucks plans to double the number of new soft drinks, as well as expand the use of oat milk and other plant-based milk in outlets around the world, after testing them well.

Persons1 and Companies1 in the news

President and CEO
1 place
1 place


Rating companies
102 Mention
89 Mention
88 Mention
75 Mention
Dow Jones
72 Mention
60 Mention
48 Mention


News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director