by Christopher Freeburn | January 28, 2013 2:10 pm
Starbucks (NASDAQ:SBUX) plans to make it easier for customers who want pricey coffee, but don’t want to get out of their cars.
In a conference call discussing the coffee shop chain’s quarterly results, CEO Howard Schultz noted that the company planned to open 1,500 U.S. locations over the next five years. About 60% of those locations will feature drive-thru service, Restaurant News noted.
Coffee shops with drive-thru facilities are expected to boost the company’s U.S. growth. Schultz noted that a little more than a third of existing Starbucks domestic locations feature a drive-thru. Yet, those locations generated 45% of the company’s retail earnings.
Last year, the chain announced plans to renovate more than 2,000 existing coffee shops thus year.
Starbucks will add 1,300 locations around the world in 2013, with 600 of those opening in countries across Asia, including China.
Shares of Starbucks fell more than 1% in Monday afternoon trading.
Source URL: http://investorplace.com/2013/01/starbucks-to-put-focus-on-more-u-s-drive-thrus/
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