UPDATE 1-Starbucks sees 2,400 new stores in fiscal year '07
SAN JOSE, Costa Rica, Nov 13 (Reuters) - Starbucks Corp. (SBUX.O: Quote, Profile, Research) will open 2,400 stores in its 2007 fiscal year and will have 20,000 stores worldwide within seven years, a senior executive said on Monday.
Colman Cuff, Starbucks' director of trading and operations, said the new stores would be spread among the United States and worldwide markets, with Asian growth driven by China.
"In fiscal year 2006 we opened more stores than were forecast, and we will better that in fiscal year 2007," Cuff said at the Sintercafe coffee industry conference in Costa Rica. The 2006 fiscal year ended on Oct. 1.
Starbucks has more than 12,000 stores, including 8,800 in the United States.
The company expects China, where it has more than 400 stores, to one day be its biggest market outside the United States.
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