Starbucks now has over 25,000 stores according to the latest company report.
The world’s leading coffee chain opened 690 net new stores in the most recent quarter, bringing the total number of Starbucks stores to 25,085 in 75 countries worldwide.
The company reported total fiscal 2016 revenues grew 11% to $21.3 billion. Net earnings for the year were $2.8 billion.
Starbucks opened 2,042 net new stores globally in fiscal 2016, including the first stores in Cambodia, Kazakhstan, Luxembourg, Andorra, South Africa, Slovakia, and Trinidad and Tobago.
“Starbucks record Q4 and fiscal 2016 financial and operating results in the face of ongoing economic, consumer and geopolitical headwinds, and the significant investments we continue to make in our people and our business, once again demonstrate the power, relevance and resilience of the Starbucks business and brand,” said Howard Schultz, Starbucks chairman and Chief Executive Officer. “The trust and confidence our customers have in the Starbucks brand – and in our store partners – is propelling our business forward in markets and channels around the world as never before.”
“Starbucks Q4 of fiscal 2016 was the most profitable quarter – capping off the most profitable year – in our more than 24 years as a public company,” said Scott Maw, Chief Financial Officer of Starbucks.