Starbucks Plans 5,000 New U.S. Stores, Expands Seating Despite Drive-Thru Trend (SBUX)

Starbucks (SBUX) plans to open up to 5,000 new U.S. cafes and add 25,000 seats by fall 2026, betting on in-store experience over drive-thru dominance. CEO Brian Niccol says revamped stores see longer customer dwell times, countering industry shifts toward mobile and car-side orders. The company will open ~175 U.S. stores in 2026 and ~400 in 2028, prioritizing smaller, 20%-cheaper formats with seating, drive-thrus, and mobile pickup. Retrofits costing $150K each are underway at 200 locations, targeting 1,000 by fall 2026 and completion by 2028. Starbucks sees white-space opportunities in central, southern, and northeastern U.S., where thousands of sites lack a Starbucks within one mile of competitors. Same-store sales rose 4% in Q1 FY2026 (Oct-Dec 2025), its best U.S. performance in two years. Management forecasts 3%+ same-store sales growth through FY2028, 5% revenue growth, and EPS of $3.35–$4.00 vs. $2.13 in FY2025. Shares fell 1% on Jan 29, 2026.