After Chief Financial Officer Rachel Ruggeri improved the coffee giant's revenue projection, Starbucks Corp. increased in late trade.
The company now anticipates that earnings per share will increase by 15% to 20% in each of the following three fiscal years, excluding certain things.
The new goals were laid out by Ruggeri at the business' yearly investor presentation.
Starbucks stated that it anticipates restarting share repurchases in fiscal 2024. This spring, as one of his first acts as temporary leader, Schultz suspended the initiative.
Starbucks announced earlier on Tuesday that it will be spending an additional $450 million to upgrade the equipment in its North American locations.
By 2025, Starbucks plans to open 2,000 more shops in the US, the Seattle-based business announced on Tuesday.