Coffee jolt: Starbucks aims for 55K stores globally by 2030
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Starbucks Corporation (SBUX
+4.0%) broke some more news today at its annual meeting after sending investors scrambling earlier in the day with word that founder Howard Schultz is returning as CEO.
SBUX highlighted its beverage innovation, notably in cold espresso and plant-based products, two of the companyâs fastest growing categories. Cold beverages were noted to have accounted for nearly 70% of Starbucks total beverage sales last fiscal year â up 20 percentage points over the past three years. Also in the spotlight, were details on the launch of Clover Vertica, a new proprietary single cup, on-demand brewer, which will begin rolling out to stores this calendar year.

Another key highlight was the coffee giant's plan to expand to approximately 55,000 company-operated and licensed stores across 100 markets by 2030. That would make SBUX the largest restaurant chain in the world by units after blazing past Subway, McDonald's and KFC.
For investors, Starbucks reinstated its share repurchase program for FY22 and said it is committed to returning $20B to shareholders over the next three fiscal years.
SBUX was singled out in Seeking Alpha's Stocks to Watch series this week with its annual meeting on the calendar.