Starbucks To Markedly Expand Alcohol Sales
March 21, 2014Starbucks says it plans to roll out its Evening program—which includes beer and wine sales and specialty food items—to thousands of stores across the country over the next several years. Speaking to Bloomberg in recent days, Starbucks COO Troy Alstead said testing of the concept in Chicago, Atlanta and Southern California over the past three years has shown that adding beer, wine and other specialty items results in “a meaningful increase in sales” during the evening hours.
The expanded move into alcohol is part of Starbucks’ plan to reach $100 billion in market value in the years ahead, compared with its current market capitalization of $58 billion. Starbucks has more than 20,100 locations globally, including roughly 11,500 U.S. outlets.
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