Amid rumors of major supply shortages, Starbucks chief executive Kevin Johnson asserted that the coffeehouse chain is not running low on coffee and cups, but conceded some baked goods are in short supply.
"We've had some shortages in the bakery case, that certainly is true," Johnson told CNBC's Jim Cramer in a Mad Money interview last week.
The interview centered around earlier reports, including one from The Wall Street Journal, that noted some Starbucks stores were “being hampered by shortages” of cups and coffee syrups, among other supplies, as traffic at stores experienced strong rebounds from last year’s slowdown.
In other news, Starbucks workers said they cannot keep up with the increasing number of mobile orders. They revealed that some stores don't have the capacity to keep up with demand on orders placed on the app, which also allows full drink customizations. See story in Business Insider.
According to a Statista report published in April, Starbucks had 32,646 stores worldwide in 2020, almost doubling its footprint in the past decade. There were more international stores than in the U.S.; these figures amounted to 15,328 and 17318, respectively.
Out of Starbucks' U.S.-based stores, more than 8,900 were company-operated, while the remainder were licensed. Starbucks recorded its highest-ever revenue in 2019, when it generated more than $26.5 billion.
