Starbucks to grow to 55,000 global stores by 2030, sees $3 billion in cost savings

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(Reuters) – Starbucks (NASDAQ:SBUX) is planning to expand its global store footprint to 55,000 stores by 2030, CEO Laxman Narasimhan said on Thursday.

The coffee chain is also targeting cost savings of over $3 billion over the next three years, Narasimhan said while speaking at the company’s 2023 “Reinvention Update and Holiday Launch” conference.