Starbucks Could Have a Mind-Blowing 50,000 Restaurants in Our Lifetime
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Version 0 of 1. One Wall Street analyst definitely doesn't think there is already a Starbucks (SBUX) on every street corner in the world. "Well beyond 2021, we would not be surprised to see Starbucks exceed the 50,000-store level," wrote Nomura analyst Mark Kalinowski in a note on Tuesday. "Because beverages such as coffee and tea are near universal in their appeal, we believe that Starbucks will achieve its stated goal of having 37,000 units open by the end of 2021, up from 25,085 as of the end of fiscal 2016," Kalinowski added. Starbucks is Kalinowski's top restaurant pick for 2017 in large part due to the company's growth plans and more attractive valuation following the stock's 7.5% decline last year. It's hard to argue with the analyst's bold prediction for Starbucks future store count for several reasons. For starters, Starbucks is about to embark on the roll-out of multiple new store concepts. Starbucks' 20,000 square foot roastery in New York City's Meatpacking District is scheduled to open in 2018. It will be two levels, feature an extended bar that sells and explains high-end coffee, and another 45 foot bar dedicated to spirits and mixology, Starbucks executives have said. Meanwhile, a 30,000 square foot store that will open in Shanghai in late 2017 is arguably grander than the one in New York. Some of the building's features will include four entries, baked goods by the recently acquired Princi, and a "world" of Teavana products that also happen to offer loose leaf tea scooping. The company will also open a multi-level roastery in Tokyo in 2018, and another one in Europe in 2019 in a city to be announced soon. |