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CLAIM #53123 · Starbucks Corporation (SBUX) · 2024Q2 earnings call · Apr 30, 2024 · due Dec 31, 2030

As we expand to Honduras and Ecuador, our global footprint will grow to more than 39,000 stores across 88 markets, putting us well on the path to 55,000 stores by 2030.

Laxman Narasimhan · CEO

PENDING
graded after results covering Dec 31, 2030 are reported

How to check this claim

Look at: Total global store count and number of markets, company-disclosed

It came true if: Global store count >= 39,000 and markets >= 88

Where: Company-disclosed store count (10-K/10-Q store data or quarterly earnings release)

In context

xcluding China, our International segment grew revenue and comp in the quarter bolstered by strength in Latin America, Asia Pacific and Japan. The Latin American region continued its strong momentum with double-digit system sales growth. Our Asia Pacific region drove revenue growth despite headwinds in the Indonesian and Malaysian markets. And revenue from our Japan business grew by double digits. Across our International segment, we opened 230 net new stores this quarter. In total, our store count outside of North America is now more than 20,800, reflecting a year-over-year growth of 9%. We opened our 400th store in India, our 600th store in Indonesia and our 1,900th store in Korea. We are on track to operate 1,000 stores in India by 2028, translating 1 new store opening every 3 days. As we expand to Honduras and Ecuador, our global footprint will grow to more than 39,000 stores across 88 markets, putting us well on the path to 55,000 stores by 2030. Our fourth strategic pillar, 1 of our 2 pumps is unlocking efficiencies. In the quarter, our Triple Shot strategy continued to unlock meaningful efficiencies across the North American business, driving 150 basis points of store operational efficiencies. Additionally, we saw meaningful reductions in product and distribution costs, driven by supply chain improvements in procurement, transportation and sourcing. Specifically in our U.S. stores, we're focused on creating a more stable environment for partners through investments in equipment innovation, process improvements, staffing, scheduling and waste reduction, all things our partners value and prioritize, creating a more satisfying work environment in our stores while derisking our business. Today, our stores are running better than

Verify independently

SEC filings for SBUX · Claim quote is verbatim from the 2024Q2 earnings call.