Part of its brand elevation is to involve further product innovation. It will look to “targeted dayparts and growing food attached with all-day breakfast and all-day snacks,” among other things, according to Starbucks.
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In North America company-operated stores, Starbucks reported seeing 20% growth over fiscal year 2023 in its hot breakfast category. Its food offerings overall brought roughly $6 billion in the same such locations, per the company.
Within the next half-decade, the company aims to increase its total Starbucks Rewards member count twofold from its current 75 million. That would mean lifting its global members to a total of 150 million.
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An executive said Thursday that the company is “on track” to do so.
Starbucks also hinted that a pair of new “Rewards Together” partnerships would roll out in the next half-year. It already has one with Delta Air Lines that kicked off in 2022.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DAL | DELTA AIR LINES INC. | 32.02 | +0.91 | +2.93% |
Customers can expect a financial institution and a hospitality company – neither of which Starbucks identified by name – to team up with the coffeehouse chain in the near future.
