Solid Growth Brewing at Starbucks

Mar 26, 2003
George Anderson

By George Anderson

Starbucks sees plenty of room for growth in the US and its overseas sales have
not hurt by calls for boycotting American brands overseas, according to Reuters.

The company’s chief executive officer, Orin Smith, told the audience at the
company’s annual shareholder meeting, “We don’t know a market that we’ve ever

Starbucks currently operates in every state with the exception of South Dakota.
Only five states, however, have more than 250 Starbucks. Worldwide, the chain
operates 6,300 stores.

Howard Schultz, chairman, Starbucks, addressed the calls for boycotts against
the chain overseas. In a Reuters interview, Mr. Schultz said, “Given
the acute nature of the Iraqi situation and world events and (weak) consumer
confidence domestically and how this is all going to play out economically around
the world, I think this is something that has to be watched and we have to be
mindful on a constant basis.”

Moderator’s Comment: How big can Starbucks get?

When you are a company looking to expand, there are no
more beautiful words than debt-free. Starbucks’ auditors can say it is debt-free.
It can also say that it is nowhere near reaching its upside potential.
Anderson – Moderator

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