Dec 7 Starbucks Corp set an annual
revenue growth target of 10 percent and profit growth target of
15-20 percent for the next five years, and the coffee chain said
it planned to open 12,000 stores globally by 2021.
The company also said on Wednesday it would open an outlet
of its high-end coffee chain, Reserve Roastery and Tasting Room,
in Europe, bringing the number to five globally.
Details of the launch will be announced early next year, the
Starbucks said last week that Chief Executive Howard Schultz
would step down to focus on the company's high-end coffee shops.
The company also said it would have Reserve coffee "bars"
selling premium coffee in up to 20 percent of its 37,000 stores
by 2021, more than it had previously targeted.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Anil