Starbucks plans biggest U.S. expansion in years – 5,000 US stores

TUCSON, AZ (Feb. 3, 2026) — Starbucks is mapping out its most ambitious domestic growth push in years, targeting as many as 5,000 potential new U.S. stores—with much of the “white space” concentrated in the South, Midwest/Central U.S., and parts of the Northeast, where the brand’s footprint is still comparatively light.

The plan was outlined during the company’s January 29, 2026 Investor Day in New York, the first major long-range strategy event under CEO Brian Niccol. Niccol framed the opportunity as obvious: Starbucks, he said, sees “crystal clear” evidence of untapped coffee demand in markets where it is underrepresented.

White space even where rivals are already planted

While Starbucks has expanded steadily in recent years, executives signaled the next wave is about geography as much as raw unit count. The company said it has identified thousands of trade areas where it can grow share—sometimes even where drive-thru competitors are already entrenched, including Dutch Bros., 7 Brew and Scooter’s Coffee.

Reporting tied to the investor day notes that more than 1,000 of the potential new sites are in markets where Starbucks does not have a store within a mile—an indicator the company views its brand demand as “underserved” even with strong competitive presence.

Stores still matter: “third place” strategy gets a refresh

Even as the industry leans hard into drive-thru and mobile, Starbucks is doubling down on cafés as a differentiator. The company said more than 60% of transactions still occur in-store, and its “Back to Starbucks” strategy includes increasing seating and improving the in-café experience.

To support growth while controlling development costs, Starbucks is also introducing smaller-format store designs that are about 20% cheaper to build while retaining seating alongside omnichannel features like drive-thru and mobile pickup.

Remodeling accelerates as staffing becomes the gating factor

Starbucks is pairing new builds with a significant reinvestment in the existing fleet. A GlobeSt.com report tied to the investor day said Starbucks had completed 70 upgrades by last November, with about 1,000 more planned for fiscal 2026, typically completed overnight to keep stores open.

But the bigger constraint may be labor and leadership development. Starbucks currently opens roughly 400 U.S. stores a year, and management has acknowledged it will need to accelerate development and staffing to reach its longer-term domestic target. As part of that pipeline, the company is rolling out a “coffee house coach” role intended to accelerate store readiness by grooming future managers earlier.

Financial targets: higher margins, stronger EPS by 2028

Starbucks told investors it is working toward a return to stronger profitability and expects earnings power to grow alongside unit expansion, store redesigns, and operational savings. Reuters and other outlets reported that Starbucks is targeting improvements in operating margin and a broader earnings framework by fiscal 2028.

CRE lens: great corners get tighter

Commercial real estate observers say the competitive context is different than Starbucks’ prior growth eras. Adam Siegel of Crexi told GlobeSt.com that the turnaround-and-growth plan is playing out in a tougher landscape—one where store closures, consumer price sensitivity, and landlord confidence may factor into deal velocity and lease negotiations.

For landlords and developers, the practical takeaway is straightforward: if Starbucks follows through, competition for drive-thru-capable pads, high-traffic corners, and efficient second-generation restaurant boxes could intensify—especially in the white-space regions Starbucks is explicitly prioritizing.