Every two years, Starbucks (NASDAQ:SBUX) gives a presentation for investors, communicating its long-term vision for the company. It's latest biennial meeting was held on Wednesday, and the company casually laid out a plan to dethrone McDonald's (NYSE:MCD) as the largest publicly traded restaurant chain in the world. The plan would also propel Starbucks past Subway as the top overall restaurant chain.
Starbucks plans to have 55,000 locations around the world by the end of 2030. It currently has over 32,000.
Image source: Starbucks.
Subway currently claims the crown for the world's largest restaurant chain with over 40,000 locations. McDonald's is close behind with about 38,000 locations. But neither is the world's largest restaurant operator. That title goes to Yum! Brands (NYSE:YUM), the company that owns KFC, Taco Bell, Pizza Hut, and The Habit Burger Grill. Across its portfolio of restaurants, Yum! Brands has over 50,000 locations.
Starbucks' plan would even steal Yum! Brands' title. While the company's press release didn't give country-specific targets, it's clear China will play a large role in its expansion plans. Currently, the U.S. and China account for 61% of Starbucks' locations. But starting in fiscal 2022 (which starts around October 2021), China will be growing locations at a double-digit pace. By contrast, its U.S. business is expected to expand at a 3% pace.
Investors appear to love the plan from this consumer-discretionary company, sending Starbucks stock to all-time highs today.
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December 10, 2020 at 10:30PM
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Starbucks Casually Lays Out a Plan to Dethrone McDonald's - Motley Fool
"plan" - Google News
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