HONG KONG—Starbucks plans to increase its China store count by 50% over the next three years, a vote of confidence in its largest market outside the U.S. despite Covid-19 lockdowns and weaker consumer spending that has damaged its sales.
Starbucks set a China store target of 9,000 by 2025 at an investor meeting during which executives outlined a wide-ranging revamp. The company previously said it would operate 6,000 stores in China by the end of this year.