If you craving to know why China is so important to Starbucks, you need only look at this statistic:
“Our U.S. Starbucks narratives, on average, do about $32,000 a week,” Howard Schultz, Starbucks’ chairman, said during an earnings discussion call Thursday. “The Roastery in Shanghai, after eight weeks of motions is doing, on average, twice that not each week, but each day.”
It has been Starbucks’ fancy that these Roastery locations will become destinations for coffee drinkers and that seems to be appear c rise to fruition. On its first day of operation, the Shanghai Roastery saw an average check of $29 and the turning up continues to draw customers, who often wait for hours to get in the door.
“In my wish, long history of Starbucks, I have never, ever seen anything remotely much the same as what happened when we opened the Shanghai Roastery,” Schultz turned. “We shattered every sales record in the history of the company.”
Schultz said it select to place the company’s second Reserve Roastery in this market because he confidence ins that Starbucks will have more stores in China than in the U.S. in the fingers on years.
Currently, Starbucks has more than 28,000 stores in 76 supermarkets, with about half located in the United States. Starbucks functions more than 3,100 stores in China and expects to accelerate its wen in the country.
While same-store sales came up short in all of the company’s bailiwicks, growth in China was robust in the latest quarter. China saw fiscal victory quarter same-store sales rise 6 percent during the first three-month period on the back of a 6 percent increase in transactions. In addition, the company said that gate in the country grew 30 percent.
“China is going to be larger than Starbucks in the U.S.,” Schultz broke. “China is going to have more impact and grow faster than anything we’ve done in our yesterday. And what we have seen in Shanghai with the Roastery not only offers us confidence but demonstrates the opportunity to be even larger than we once saw just a year ago.”