Press release
Starbucks Announces Triple Shot Reinvention Strategy with Multiple Paths for Long-Term Growth
Triple Shot Reinvention will focus on three priorities: elevating the Starbucks brand; strengthening the company’s digital capabilities; and becoming truly
About this update from Starbucks Corporation
[{"type":"text","content":"\nTriple Shot Reinvention will focus on three priorities: elevating the Starbucks brand; strengthening the company’s digital capabilities; and becoming truly global; customized with “two pumps” unlocking efficiency and reinvigorating partner culture. This includes:\n\n\n\nElevating the brand through better run stores, growing the portfolio with more purpose-defined stores and accelerated renovations, and driving further product innovation.\n\n\n\nStrengthen and scale digital by doubling its 75M global Starbucks Rewards Members within five years and expanding digital and technology collaborations to elevate the partner and customer experience.\n\n\n\nBecome more global by accelerating store expansion to 55,000 globally by 2030.\n\n\n\nUnlock efficiency to generate $3B in savings over three years – with $2B outside the store – to deliver returns to shareholders through margin expansion and earnings growth.\n\n\n\nReinvigorate the partner culture through the rollout of the mission, promises and values and through continued investments in the partner value proposition across the partner experience.\n\n\n\n SEATTLE--(BUSINESS WIRE)--\nStarbucks Coffee Company (NASDAQ: SBUX) today announced its long-term growth strategy, Triple Shot Reinvention with Two Pumps, to elevate the brand, strengthen and scale digital, further expand globally, identify opportunities within and outside the store for efficiencies, and reinvigorate the partner (employee) culture. The strategy builds on the significant business momentum from the past year, while laying out a roadmap for how the company will deliver long-term, sustainable growth and outsized returns to partners, customers, and shareholders.\n\n\n“I am immensely proud of the work we have done so far in reinventing and re-founding the company for its next phase of growth. I am excited about our multiple paths to revenue growth and earnings, which should give you confidence in our ability to meet our goals,” said Laxman Narasimhan, chief executive officer of Starbucks as part of the company’s presentation to investors in New York City. “I am honored to be leading this talented group of over 450,000 green apron partners, including this executive leadership team, to deliver human connection more broadly around the world for the benefit of us all.”\n\n\nStarbucks plans for Reinvention were first introdu...