Starbucks has hosted its first investor day in three years, just days after announcing its first sales increase at United States (US) stores in two years in its recently reported financial results.
In a press release shared on the same day the investor day took place, 29 January, Chairman and CEO Brian Niccol claimed “Starbucks is back”, citing the ‘Back to Starbucks’ campaign as critical in reconnecting the brand to customers.
“Customers are responding to our commitment to world-class service, compelling menu innovation, and marketing that truly resonates,” says Niccol.
“We’re putting the customer at the centre of everything we do and setting our partners up for success.
“We know there’s more work ahead, but we’re confident in our plan and see significant opportunity in the US and around the world.”
As part of the investor day, Starbucks released an updated outlook for fiscal 2028, which includes the expectation to deliver:
- Five per cent or greater consolidated net revenue growth.
- Three per cent or greater consolidated net revenue growth.
- Over 2000 net new stores across the global company-operated and licensed. portfolio, including approximately 400 net new US company-operated stores.
- Two to three per cent consolidated revenue contribution from new stores.
A major part of the strategy to achieve that growth over the next two fiscal years is adding new innovation to the existing menus, with Global Chief Brand Officer, Tressie Lieberman.
“We know how to get people talking with our strong track record of breakthrough innovation,” Lieberman said at the investor day.
“From seasonal lattes to Protein Cold Foam, we have consistently created platforms that redefine the industry. Innovation isn’t optional. It’s oxygen for our brand, and our brand’s strength is backed by a global innovation powerhouse. When an idea works in one market, we can scale it around the world.
“Our food business has doubled since 2020, now nearly $6 billion in annual revenue, accounting for about 25 per cent of sales. Customisation alone is a billion-dollar business, unlocking incremental value and driving higher attach. Cold Foam is now one of our largest modifiers and represents one-third of our billion-dollar customisation business.
“Our plan has two layers. First, our five core seasons, winter, spring, summer, fall, and holiday. These are the anchors, the big bets that guide customers through the year with intention. Second, we are persistently in culture with relevant beats like social-first ideas, customer-generated beverages, limited merchandise, nostalgic moments, and partnerships. This is critical in a high-frequency business.”
Lieberman also stated a dedicated matcha menu will be landing at Starbucks stores in the week following the investor day, and that Starbucks’ popular ‘Refreshers’ platform has been revamped to include ‘Energy Refreshers’ in the spring.
