So in addition to opening 8,000 stores over the next five years — about 4.3 per day — the coffee giant will have to drum up new revenue through initiatives like mobile delivery.
At the meeting, Starbucks CEO Howard Schultz told shareholders the company planned the sixth 2-for-1 stock split in its history. Shares rallied to record highs after the announcement, closing at $95.84, up 1.5 percent.
Starbucks also said it struck a deal with Chinese food and beverage maker Tingyi Holding Corp. to manufacture and distribute ready-to-drink products in China, a market the company estimates at $6 billion.
In Seattle, Starbucks’ beverages and pastries will be delivered by Postmates, a San Francisco startup that specializes in on-demand delivery. Pretty much like Uber, Postmates relies on technology and part-time workers with their own bikes and cars to deliver food and merchandise.