Starbucks’ Stock Pops On Plans For the Future
Sep 14, 2022 By MarketDepth
Starbucks (SBUX:NYQ) releases optimistic growth data for the next three years. The company’s annual investor day ended with a strong business reinvention plan.
Starbucks surged 5% intraday after the positivity from the annual investor day but is still down 20% on the year.
The company’s big push is to invest in the growth of stores, partners and customers are supposed to drive growth through 2025. This investment is expected to drive an increase in sales by 7-9% in fiscal 2023-2025. The pandemic caused some challenges in international markets but is expected to see sales continue to increase as pandemic fatigue starts to kick in.
“As we execute on our Reinvention plan, we are building on our 51-year history of market leading innovation to position our business and our brand for the next chapter of growth. Guided directly by our partners, we have already begun to take action on an inspired roadmap to build the future of Starbucks, all while staying true to our mission of uplifting communities through a shared love for coffee and further extending our coffee leadership and innovation. I am confident that our partners and world-class leadership team will capture the significant global growth opportunity ahead, unlocking value for all our stakeholders.”Interim Chief Executive Officer, Howard Schultz