Starbucks (SBUX) Investor Day 2026 summary

Strategic vision and growth plans

• Focus on returning to core strengths: customer experience, coffee quality, and community connection, with the Back to Starbucks plan driving operational and cultural transformation.

• Emphasis on innovation in menu, technology, and digital experiences, including a new loyalty program and AI-powered ordering companion.

• Expansion of the Green Apron Service model to improve partner engagement, operational efficiency, and customer satisfaction.

• International growth driven by an asset-light, licensed model, especially in China, with plans to double the international store footprint over the long term.

• Commitment to sustainability, partner development, and maintaining a premium brand position globally.

Financial guidance and shareholder value

• Fiscal 2028 targets: global and U.S. comparable sales growth of at least 3%, consolidated net revenue growth of 5% or more, and operating margins of 13.5%-15%.

• EPS guidance for fiscal 2028 is $3.35-$4.00, with a potential $0.15 reduction if China moves to a joint venture structure.

• New store contribution to revenue expected at 2%-3% by 2028, with over 2,000 net new coffeehouses globally, including 400 net new U.S. company-operated stores annually.

• Margin expansion to be driven by sales leverage, cost savings (targeting $2 billion over three years), and targeted pricing to offset inflation.

• Capital allocation priorities: invest in growth, maintain a competitive dividend, and preserve investment-grade credit rating.

Operational and digital transformation

• Rollout of new equipment (Mastrena III espresso machine, Clover Coffee) and AI-driven tools (Smart Queue, Green Assist) to boost throughput and consistency.

• Store design optimization to reduce build costs by 20% and focus on omnichannel access (café, drive-thru, mobile, delivery).

• Coffeehouse uplifts to add 25,000+ seats and enhance the Third Place experience by 2026.

• Enhanced partner development with structured career paths and leadership stability, aiming for 90% internal promotion to retail leadership roles.

• Digital menu boards, personalized app experiences, and a tiered loyalty program to drive frequency and customer engagement.