Press release
Starbucks Enters New Era of Growth Driven by an Unparalleled Reinvention Plan
Introduces Three-Year Financial Roadmap, Delivering Annual 7-9% Comparable Store Sales Growth, 10-12% Revenue Growth, and 15-20% Non-GAAP EPS Growth
About this update from Starbucks Corporation
[{"type":"text","content":"\nIntroduces Three-Year Financial Roadmap, Delivering Annual 7-9% Comparable Store Sales Growth, 10-12% Revenue Growth, and 15-20% Non-GAAP EPS Growth\n\n SEATTLE--(BUSINESS WIRE)--\nStarbucks (NASDAQ: SBUX) today hosted its biennial Investor Day in Seattle where interim chief executive officer Howard Schultz, chief financial officer Rachel Ruggeri, and Starbucks leaders showcased the company’s Reinvention plan to an in-person audience of more than 150 investors. Presentations highlighted decisive actions and targeted investments in partners, customers, and stores that are expected to accelerate the company’s long-term growth, progressively expand operating margin, and drive high-teens non-GAAP EPS growth annually through fiscal 2025.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220913006189/en/Starbucks interim chief executive officer Howard Schultz showcases the company’s Reinvention plan to an in-person audience of more than 150 investors. (Photo: Business Wire)\n“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,” said Schultz. “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.”\n\nSchultz also introduced incoming ceo Laxman Narasimhan, who shared his enthusiasm for the Reinvention plan. Narasimhan will officially join Starbucks on October 1, 2022 and will work closely with Schultz before assuming the ceo role and joining the Board in April 2023. Schultz will remain as a member of the Board after the transition.\n\nStarbucks Unveils Roadmap for Accelerated EPS Growth\n\nIn connection with its Reinvention plan, Starbucks introduced a framework for accelerated earnings growth over the next three years, underpinned by enhanced comparable store sales growth, increased store count growth, continued margin expansion, and disciplined capital allocat...