Correction in first paragraph to indicate the rollout will affect select stores only.
NEW YORK (TheStreet) -- Starbucks (SBUX - Get Report) has confirmed it is moving forward with plans to serve alcohol at more than 1,000 stores nationwide after a successful testing period at select stores.
"The test is over," CEO Howard Schultz told CNBC, noting that the company would proceed with its plans.
In late March, COO Troy Alstead told Bloomberg the company had been testing alcohol sales in the evening at thousands of stores and that the results had been positive so far. However, he noted a complete rollout would likely take several years.Must Read: Starbucks Earnings Benefit From Lower Coffee Expenses SELL NOW: If you own any of the 900 stocks that TheStreet Quant Ratings has identified as a 'Sell'...you could potentially lose EVERYTHING in the next 6-12 months. Learn more. TheStreet Ratings team rates STARBUCKS CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation: "We rate STARBUCKS CORP (SBUX) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."
- You can view the full analysis from the report here: SBUX Ratings Report