Dallas, Texas 07/22/2015 (Financialstrend) – Starbucks Corporation (NASDAQ:SBUX) expansion plans are gaining momentum having announced plans to roll out its first ever store in Sub-Saharan Africa. However, pursuing growth back at home is the company’s top priority as the marketplace continues to contribute a good chunk of the total earnings. The Coffee giant is in the process of opening up new stores in diverse and under-represented neighborhoods in 15 US cities.
Hiring Youths and Minorities
Starbucks Corporation (NASDAQ:SBUX) plans to open new stores in Chicago; Ferguson, Missouri; Milwaukee; Phoenix and Queens New York; this are some of the location that many people would not expect to find an upscale coffeehouse. Starbucks plans to work with minorities and female owned suppliers as well as nonprofit and civil leaders to ensure smooth operations and acceptance in this locations.
Starbucks Corporation (NASDAQ:SBUX) intends to hire local youth backed by its $1.5 million in grants for youth to ensure a seamless integration. Increasing sales opportunities in this areas will play a second role with the company focusing more on giving back to the society in terms of new jobs for the locals as well as training the youth.
The stores are to employ 20 to 25 employees as the company moves to partner local youth services organizations and the government to connect the young people to internships apprenticeships and jobs.
Q3 Earning Expectations
Separately Starbucks Corporation (NASDAQ:SBUX) is to release its third quarter earnings on Thursday. The Street expects the company to post a 21% increase in earnings that should come in at 41 cents a share on revenues of $4.86 billion. Nationwide rollout of Mobile Order & Pay should allow the company to post a second quarter of accelerated profit growth.
The Mobile Order & Pay feature has already boosted the company’s earnings by 15% having accounted for 14% of the total orders over the past three months according to an RBC survey. The Street also expects Starbucks Corporation (NASDAQ:SBUX) to post a 6.2% increase in global same-store sales mostly driven by China and Asia Pacific Segment.