Starbucks Corporation (NASDAQ:SBUX) reaffirmed its guidance for FY21 at an investor event. The company also said it expects FY23 and FY24 adjusted EPS growth of 10% to 12% year over year. Starbucks also announced plans to launch a shaken iced espresso and oat milk this spring in its stores in the U.S.
Chief Executive Officer Kevin Johnson and other Starbucks leaders outlined a vision for the future and discussed the company’s progress against its Growth at Scale agenda. With a focus on creating value for all stakeholders, Starbucks believes that responsible growth includes doing the right thing for both people and the planet.
The company also provided updates to its ongoing growth model and aims to drive consistent and predictable sales growth and margin expansion while continuing to create significant value for all stakeholders.
“We are a purpose-driven company with a mission grounded in the human experience as we seek to have a positive impact on both people and the planet, while profitably growing our business,” said Johnson.
“Over the past two years, we have further streamlined the company, sharpened our focus on accelerating growth in our two lead markets of the U.S. and China, and expanded our global reach through the Global Coffee Alliance with Nestlé while increasing returns to all of our stakeholders.
“Looking ahead, coffee remains a very large and attractive market that is growing globally. We are focused on growing category share and believe Starbucks is better positioned than ever for continued success.”
Starbucks leadership team emphasized caring for partners (employees) as a key building block of the company’s strategy, alongside a continued focus on creating uplifting experiences for customers while playing a positive role in communities and neighborhoods worldwide.
SBUX perked $4.41, or 4.4%, to $104.83 soon after Thursday’s opening bell.