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article imageStarbucks introducing new beverages and highlight company growth

By Nicole Byerly     Mar 21, 2012 in Business
Starbucks, one of the leading coffee producers, has announced plans for company expansion including a new line a beverages.
After experiencing a drastic cut back caused by the current economic recession, Starbucks continues to experience rebound and a sudden rise in sales. After the first quarter closing, Starbucks reports a net growth of 10 percent in income and 16 percent revenue amounting to over $3.44 billion, and they have no plans to stop growing.
On Wednesday, at the company's annual meeting, Starbucks announced their growth plans for the company that include increasing the sales of their commonly known consumer products such as coffee machines, Via instant coffee, and their single serve coffee packets. They also included the announcement of their new line of energy drinks called "Refreshers." These 12-ounce beverages created with green coffee extract are to be sold in numerous grocery stores across the country as well as in their cafes.
Starbucks also announced their plans for opening several new stores across the country as well as juice bars, and introducing a new brand of coffee machine and single-cup espresso maker named "Verismo."
Not only will the strategies established by Starbucks benefit the company, but the plans to build a new plant set to open in 2014, will produce over 140 positions in the Augusta, Georgia area. Also in 2014, Starbucks plans to further expand their company and business overseas in China and Asia, where they hope to create the second largest market outside of the United States, establishing 1,500 stores in China. By 2013, Starbucks plans to establish more stores in Japan that will total 1,000 in the country, and produce nearly 7,000 stores in South Korea by 2016.
The growth plan highlighted by Starbucks is set to increase earnings from 10 percent to 15 percent annually, with an ultimate goal of 20 percent annual.
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