Starbucks Stock Jumps On New Profit Goals, Store Investment Boost

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The Street

By Martin Baccardax “We are building on our 51-year history of market leading innovation to position our business and our brand for the next chapter of growth,” said interim CEO Howard Schultz. Starbucks (SBUX) – Get Starbucks Corporation Report shares jumped higher Wednesday after the world’s biggest coffee chain boosted its near-term earnings growth forecast and pledged to invest around $3 billion on new technologies and in-store renovations. Starbucks said it sees earnings growing by between 15% and 20% over the next three years, improving on its prior forecast of a gain of between 10% and …

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