Schultz also addressed Starbucks' battered share price, saying he doesn't "feel very good" about the fact that the stock is worth less now than it was a year ago.
He asked investors, who have driven the stock down more than 20% since November, to consider Starbucks' track record of delivering shareholder value.
"There has never been a better time to be a Starbucks shareholder," Schultz said.
Finally, Schultz reaffirmed the company's growth targets, saying it plans to open at least 10,000 stores in the next four years and increase net earnings faster than revenue.
He also stood by the company's long-term goal of one day having at least 40,000 stores worldwide.
Starbucks also said it still expects to earn between 87 cents and 89 cents a share for the year on about 20% total revenue growth.
Same-store sales, a key retail measure that tracks sales at stores open at least 13 months, are expected to rise between 3% and 7%. That forecast is also unchanged.