1 Reason Starbucks Is Opening More Stores Internationally Than Domestically
Starbucks (NASDAQ: SBUX) is feeling good about its new fiscal year. After the many difficulties it faced from the coronavirus pandemic, the company has been mostly upbeat when discussing its prospects. The international coffee chain had the majority of its owned and licensed stores in operation, albeit at reduced capacity, as of its latest earnings release.
Still, the company said it would achieve double-digit comparable-store sales growth in fiscal 2021. That would be a welcome turnaround for shareholders, who endured a challenging 2020 as comps decreased by 9% from the previous year. The optimism may be one reason the company is adding locations next year. But why is such a high percentage of that growth happening internationally?
Source Fool.com
