Starbucks presented its progress on the ‘Back to Starbucks’ transformation plan at its 2026 Investor Day. The company showcased new coffeehouse and menu innovation, sharing the details of its financial framework for long-term, sustainable growth. In three years, the company plans to open over 2,000 new stores worldwide.

“Starbucks is back,” said Brian Niccol, chairman and CEO. “Customers are responding to our commitment to world-class service, compelling menu innovation, and marketing that truly resonates. We’re putting the customer at the center of everything we do and setting our partners up for success. We know there’s more work ahead, but we’re confident in our plan and see significant opportunity in the U.S. and around the world.”

At the investor event, Starbucks shared a long-term financial framework for sales growth and ‘disciplined’ coffeehouse expansion. In fiscal 2028, the company expects to achieve:

• 5% or greater consolidated net revenue growth
• 3% or greater global and U.S. comparable store sales growth
• 2%-3% consolidated revenue contribution from new stores

“Starbucks has enduring strengths and we are building on them,” said Cathy Smith, chief financial officer. “Our financial framework shows how we will translate our ‘Back to Starbucks’ strategy into sustainable, profitable growth and compelling shareholder returns.”

Reimagined rewards

Starbucks announced a reimagined Starbucks Rewards program launches on March 10, introducing three levels – Green, Gold and Reserve, to encourage customer loyalty. “Our Rewards program is strong – and we’re building from a position of leadership,” said Tressie Lieberman, global chief brand officer. “Through the filter of member feedback, revenue, and efficiency, we identified clear actions to unlock the next generation of loyalty.”

With Starbucks Rewards driving nearly 60% of U.S. company-operated revenue in fiscal 2025, the company emphasized that small increases in member engagement could unlock significant incremental revenue.

New in the menu

Starbucks also outlined its menu innovation strategy. “From brewed coffee to macchiatos, our morning loyalists love the rich and wonderful ritual of their Starbucks order. They rely on us to start their day,” Lieberman said. “We see an opportunity to own a new occasion in the afternoon. An afternoon reset. A culture-shaping ritual that Starbucks is perfectly poised to define and own.”

Lieberman shared that the company will continue winning in the morning segment while it works to create a new peak in the afternoon.

Menu innovation highlights include:

• New globally inspired bakery and food items are arriving this year
• New espresso, matcha and chai beverages, including Ube, which is launching this spring
• Introduction of premium customizable chai
• Expansion of the Refreshers platform with Energy Refreshers
• Continued growth in cold beverages, customization and protein-forward offerings

 “We’re not chasing trends,” Lieberman said. “We’re building on a beloved platform and never giving customers a reason to go anywhere else.”

Investments

Key initiatives include:

• Smart Queue to intelligently sequence café, mobile, drive thru and delivery orders
• Integrating AI to support partners, including supply chain and scheduling tools
• Next-generation espresso equipment

“Growth doesn’t require us to become something new, it requires us to be exceptionally good at who we already are,” said Grams. “Throughput is a durable competitive advantage.”

Global growth

The company outlined long-term opportunities for growth beyond fiscal 2028 around the world. Highlights include:

• Up to 5,000 new coffeehouses across the U.S. alone, a number that could double over time
• Double its international coffeehouse footprint over time, approaching 40,000 locations outside the U.S., driven by achieving between 15,000 to 20,000 new coffeehouses in China
• Accelerate international licensed store growth, with international coffeehouses expected to grow at double the rate of North America

Starbucks also highlighted its China joint venture with Boyu Capital, shifting the market to a licensed model while retaining a 40% stake.

Photo: Starbucks social media