Starbucks to open world's largest location in Chicago

By Business LeadersFOXBusiness

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Nov. 15 has regained a new meaning for Starbucks fanatics right in the heart of Chicago’s Magnificent Mile district.

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It's where the company is slated to open the world’s largest Roastery, spanning four stories and encompassing roughly 43,000-square-feet.

The Chicago Reserve Roastery is designed to “bring coffee craft to life by offering multiple brewing methods, specialty Reserve beverages and mixology” the company said in a 2017 statement in announcing its plans.

Roasteries are described by the company as "theatrical, experiential shrines" for one to indulge in their coffee passion, where "Master Roasters, mixologists and baristas ply their craft to coax perfectly flavorful, often unexpectedly artful expressions from our rare, single-origin coffees," according to the company.

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The sensational coffee environment is taking the place of the former Crate & Barrel location, adding to the small batch of Roastery locations around the world.

“Having opened our first Starbucks store in Chicago nearly 30 years ago, our first outside of Seattle, this is a very special city for me. At the time, it was a true test for Starbucks because the Chicago customer is so savvy and discerning about their coffee."

Howard Schultz, executive chairman of Starbucks 

The buzz around the opening comes at a time when the company says it expects profits won’t be as big as projected because of a change to its share buyback program and effective tax rate.

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In July, however, the company announced a strong operating performance in its third quarter.

“Starbucks delivered strong operating performance in the third quarter, further demonstrating that our ‘Growth at Scale’ agenda is working,” Kevin Johnson, president and CEO. “Our two targeted long-term growth markets, the U.S. and China, performed extremely well across a number of measures as a result of our focus on enhancing the customer experience, driving new beverage innovation and accelerating the expansion of our digital customer relationships. Given the strong momentum across our business, we are raising our full-year financial outlook.”

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