CFO Pat Grismer presented to the Goldman Sachs conference earlier this week and gave a brief look at US operational developments with Starbucks’. Interestingly, he made some of the very same points that Dunkin Brands did in 2017 and 2018 when the Dunkin Blueprint was implemented. Starbucks acknowledged they would stay beverage focused to drive the top line sales, but with food in a supporting role. They continue to look for ways to simplify store operations through technology and reduction of SKUs while acknowledging the Coldbrew and flavored teas platforms had successfully offset the multiyear decline of the Frappuccino platform. They just went “on air” with Nitro Cold Brew and implied good traffic results to be reported next quarter. Our analyst John Gordon notes that Starbucks will close stores sooner in the evening if there is no business and will shut down outdoor patio areas to avoid problems with the homeless. Grismer reported the termination of the “Roastery Flagship Store” program, with the last store set to open in Chicago in the fall.