Starbucks (NASDAQ:SBUX) just unveiled their reinvention plan. They’re going to be investing heavily into the business over the next couple of years.
In 2023, they’re going to be investing $450 million into their North American stores, and they’re going to continue investing into them in ’24 and ’25.
Starbucks Expects Continued Growth
And get this, guys, globally, Starbucks (NASDAQ:SBUX) is well on track to reach 55,000 stores by the end of 2030 and 45,000 stores by the end of 2025, and they’re expected to continue growing in China, especially as the lockdowns and all that stuff is coming to a conclusion right now.
And as for global revenue growth, for fiscal 2023-2025, Starbucks now sees it at 10-12% annually, whereas before it was 8-10%. That’s a nice improvement.
And as for the stock, you guys can see it’s up about 6% right now.
It’s breaking out on the 4-hour chart, and it’s about to test a resistance from a couple of months ago, 93 bucks.
If that breaks, we’re going higher.
What do you guys think? Follow along for more.