Starbucks Thinks Smaller to Get Bigger

Starbucks Corp. raised its long-term goal for how much larger it wanted to get by 20%, citing opportunities to put more of its coffee stores in smaller U.S. markets.

The Seattle company raised its target to 30,000 stores, up from its previous goal of 25,000, Chairman Howard Schultz said during a meeting with analysts. He did not set a specific time frame for reaching that size, which would put Starbucks on par with fast-food chains such as McDonald’s Corp.

Starbucks shares rose 14 cents to $47.79 on Nasdaq.