Starbucks outlined a clear financial framework through fiscal 2028, targeting 5% or greater consolidated net revenue growth and at least 3% global and U.S. comparable store sales growth. The company expects new stores to contribute 2%–3% of consolidated revenue, with a plan to open over 2,000 net new locations worldwide, including approximately 400 net new U.S. company-operated cafés. Management is aiming for a non-GAAP consolidated operating margin of 13.5%–15% and non-GAAP earnings per share of $3.35–$4.00 by fiscal 2028, reflecting disciplined coffeehouse expansion and operating leverage from its “Back to Starbucks” strategy.

In the first quarter of fiscal 2026, Starbucks delivered 4% same-store sales growth globally—the second consecutive quarter of positive comps—with the U.S. and every major international market contributing. Through the full rollout of the Green Apron Service model in North America, the company achieved average peak throughput of under four minutes across café and drive-thru channels. Coffeehouse “uplifts” have added more than 25,000 new seats in U.S. cafés through targeted remodels, of which 200 have been completed at approximately $150,000 each and more than 1,000 are slated by the end of the fiscal year.

Starbucks will launch a three-tiered loyalty program on March 10, restructuring benefits across Green, Gold and Reserve levels to accelerate engagement for its 35.5 million active U.S. members. The redesigned program introduces faster Star earning—up to 1.7 Stars per dollar for top-tier members—and exclusive perks such as free monthly beverage customizations, Stars that never expire at Gold and Reserve levels, and access to curated global coffee-culture events. With Rewards transactions accounting for roughly 60% of U.S. company-operated revenue in fiscal 2025, management projects small increases in member engagement to unlock significant incremental sales.

Looking beyond its core morning business, Starbucks is accelerating menu innovation with new espresso, matcha and chai beverages—including a Ube launch this spring—alongside expanded Refreshers, cold beverages and protein-forward offerings. The company plans to double its international footprint over time, targeting 15,000–20,000 new coffeehouses in China through a shift to a licensed model (retaining a 40% stake in its joint venture) and up to 5,000 additional stores in the U.S. as average unit volumes grow. Management emphasized that disciplined execution of technology investments—such as the AI-powered Green Dot Assist and next-generation Mastrena 3 espresso machines—will support service consistency and margin recovery.