Like Dunkin Brands, Starbucks also held an earnings call yesterday reporting on its Q4 results. Overall, it beat analyst expectations, but its US business is in worse shape. US same-store sales were 9% negative, matching the 10 negative percentage points it has been trailing Dunkin US by throughout the spring and summer months. Its Q4 US traffic was 25% negative with average ticket 21% positive. Interestingly, despite these numbers, it still opened net US stores (2%) and has only talked about “pruning” its US stores portfolio. There is still much store location mix transformation that needs to be done, but the company anticipates much healthier results in the coming year predicting that 2021 will be a “bounce-back” year.