Bloomberg Television · Oct 30, 2026 · 9 min
With Brian Niccol, Chairman and CEO of Starbucks
Photo via Wikimedia Commons (Phi Delta Theta, CC BY 2.0)
Starbucks is already touching the low end of its fiscal 2028 guidance, a year earlier than planned. Brian Niccol, Chairman and CEO of Starbucks, told Romaine Bostick on Bloomberg Television that the turnaround is over and the company is now running a growth plan.
The turnaround meant closing roughly 250 North American stores. The growth plan reverses that, with about 300 new US openings and room, in Brian's view, to double the store count abroad.
"The good news is I don't need inorganic to hit our growth targets. We are in a position of strength, we are in no rush to do anything but our Back to Starbucks growth plan." — Brian Niccol
Brian ran the Back to Starbucks turnaround that included the sale of a majority stake in the company's China retail business. In this interview he set out how many stores he wants to open, why matcha belongs on a coffee menu and where a multi-brand company fits.
The full segment is covered here so you can skip it.
Here are the 6 takeaways that matter.
Key Takeaways
Starbucks is already at the low end of its fiscal 2028 guidance, a year early
About 300 new US stores in fiscal 2028, after roughly 250 North American closures
The 22,000 stores outside the US could double to 40,000-plus, Brian says
The China deal is capital-light but still earns a brand return, and international grew excluding China
Espresso, mostly cold, is still the largest category even as matcha and Refreshers grow
A multi-brand Starbucks is not the focus, but Brian would "never say never"
No advanced M&A talks, and no acquisitions needed to hit the targets
1. Growth Plan, a Year Early
Brian told Romaine that "we have moved through the turnaround, and now we are focused on our growth plan." That plan covers fiscal 2027 and beyond, and it rests on the Green Apron service model, coffee craft and how well each store runs.
Starbucks has reached its fiscal 2028 targets a year ahead of the investor-day schedule
"If you look at where we guided for fiscal 28, we are already touching the low end of that guidance a year early." — Brian Niccol
The fiscal 2028 targets were set at Starbucks' investor day. Fiscal 2027 results already reach the bottom of that range, so the company is ahead of the plan it gave investors.
