GRANTS PASS, ORE. — A little over a month after unveiling its 1,000th retail location, drive-thru coffee chain Dutch Bros Inc. (NYSE: BROS) is expanding its operations with goals to reach 2,029 shops by 2029.
Originating in 1992 as a pushcart by the railroad tracks in downtown Grants Pass, Dutch Bros opened its first franchise in 2000. Dutch Bros Coffee now has a significant presence in the Pacific Northwest and is expanding with more locations across the United States, moving eastward to Florida, Texas, Oklahoma and Georgia.
Looking further out, Dutch Bros sees potential for 7,000-plus locations nationwide, up from its original estimate of 4,000 shops. In 2025 alone, the company expects to open “at least” 160 new stores.
The company recently hired former YUM! Brands executive Brian Cahoe as chief development officer to oversee the expansion strategy.
The Dutch Bros management team recently provided updates on the business and its long-term growth goals at its Investor Day meeting last week.
“We are pleased to deliver quarter-to-date first-quarter same-shop sales above our expectations, supported by positive traffic and strong business momentum,” says Christine Barone, CEO and president of Dutch Bros.
Through March 24, same-store sales increased 4.6 percent in the first quarter at Dutch Bros locations that have been open for at least 15 months compared to the same period in 2024.
Dutch Bros projects annual revenue growth to reach approximately 20 percent, which is further supported by annual new shop growth in the mid-teens and low-single digit same shop sales growth.
In partnership with coffee manufacturer Trilliant Food & Nutrition, the company also plans to join the consumer-packaged goods market, launching a line of Dutch Bros packaged coffee and related products to be sold in retail outlets.
“We believe this offering will build brand awareness, especially in newer markets, by providing exposure to new potential customers,” says Barone.
Dutch Bros Inc. currently operates more than 1,000 locations across 18 states. The company’s stock price closed on Monday, March 31 at $61.74 per share, up from $32.94 a year ago, an 87.4 percent increase.
— Abby Cox