The global coffee chain has been a stellar investment, with the stock climbing more than 500% over the past 10 years.
Had you bought $156,000 worth of Starbucks stock a decade ago, you would be a millionaire today.
Starbucks caught our interest as well. We decided to investigate and find out if the company could be a millionaire-maker stock!
‘’Impeccable survival instincts’’
Starbucks was one of the companies that took a major hit last year as it closed locations all around the world due to the coronavirus pandemic.
However, the power of the brand, together with consumers’ unswerving need for coffee, helped the company navigate these turbulent times.
Starbucks continued serving customers in a variety of ways with its drive-thrus, curbside pickup option, and mobile ordering.
The Starbucks Rewards program grew 15% in the quarter, and these customers accounted for 50% of U.S. company-operated sales in the period.
Keeps growing stronger
There are currently 33,000 Starbucks locations worldwide, and the company plans to open many more. The goal is to reach approximately 55,000 stores across 100 markets by the year 2030. Impressive!
Also, Starbucks is testing a new store format called Starbucks Now. It’s a digitally supported layout that will use the company’s technological capabilities to fulfill orders.
What’s our verdict? Having all these in mind, we can safely say that Starbucks could definitely make it as a millionaire-maker stock!
The next time you have your favorite Starbucks coffee, put some money aside to invest in the millionaire-maker stock!