SEATTLE - Starbucks is once again in a growth mode with its recent announcement of adding 800 new stores by September 2012, MarketWatch reports. Two hundred of those stores will be in the United States, where same-store sales growth should rise about 7 percent for this fiscal year for the second consecutive year.
Starbucks has plans to continue that growth beyond new stores with its new retail products, Via instant coffee flavors and a new program to increase the Tazo tea brand, according to Howard Schultz, Starbucks president/CEO in Nation€™s Restaurant News.
Driving increased sales this year have been its new Petites line of mini treats, such as cake pops, and tiny cupcakes. "Two years ago, when the world was coming to an end, not only were we dealing with the economy, but there was concern about McDonald€™s and others," said Schultz. "I think we€™ve done a very good job in creating the kind of experience that really does differentiate Starbucks from everybody else."
The coffeehouse chain plans to debut some new products this year, such as single-serve K-Cup options for grocery and retail, and two new Via flavors. Starbucks stores will start offering K-Cups in late 2012.
Starbucks also has big plans for Tazo Tea, which it bought in 1999. "After water, tea is the most consumed beverage on earth," said Schultz. "We have exciting plans to leverage our global retail store footprint and growing Consumer Product Group presence to go after the tea category in a way we€™ve never gone after before."