Starbucks to Nearly Double New Store Growth in Fiscal 2022

November 3, 2021

The company anticipates economic conditions working in its favor in the coming year.

Image source: Getty Images.

Key Points

  • Increasing vaccination rates will get people out of their homes and give them more occasions to visit Starbucks.
  • Starbucks is investing in increasing employee wages to ensure it has enough staff.
  • Revenue snapped back above 2019 levels despite the ongoing pandemic.
Starbucks reported fiscal 2021 fourth-quarter earnings after the market closed on Oct. 28. As part of the announcement, management unveiled fiscal 2022 projections.

One expectation that stood out was Starbucks’ plan to nearly double the pace of new store growth in fiscal 2022 — a surprise announcement considering the myriad supply chain disruptions that are challenging the economy right now.

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