Starbucks Can Double Its Store Count Outside of the US, CEO Says

Starbucks Corp. Chief Executive Officer Brian Niccol said the coffee chain has the potential for aggressive growth in other countries.

“I know we don’t talk about it a lot, but look, we’ve got 22,000 stores outside the United States. There’s no reason why that can’t double,” Niccol said during a presentation at the Evercore Consumer and Retail Conference on Tuesday.

Niccol added that the company can add at least 5,000 more stores in the US, echoing earlier comments. He pointed to opportunities in the area between Texas and Virginia, as well as the center of the country.

“We just have had a West Coast, East Coast bias and didn’t develop enough in the middle of the country,” he said.

Including locations operated with partners, Starbucks operates more than 41,000 stores in 89 markets around the world. Close to 23,000 of these are outside the US and Canada.

Starbucks shares rose 2.7% at 12:41 p.m. in New York trading.