Starbucks chairman, CEO and president Howard Schultz unveiled a raft of plans to support the coffee chain’s growth, at its latest annual general meeting.

Schultz outlined the firm’s strategy for long-term growth and said he expected a record free cash flow of $500m in 2009, achieved through "structural expense reduction".

Troy Alstead, executive vice-president, chief financial officer and chief administrative officer, outlined the firm’s two-pronged approach, focusing attention on increasing profits in existing stores, as well as making strategic investments in key initiatives, such as its entry into the instant coffee market earlier this month.