Starbucks

On its earnings call on Tuesday of this week, Starbucks reported respectable earnings, beating both expected revenues ($22 million) and EPS ($.22 EPS, GAAP basis) for Fiscal Quarter 3.  In the US, it has regained most of its prior position with same-store sales plus 10% versus Q3 in 2019 (plus 83% versus 2020). Virtually all…

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Competitor News

With a strong base of 400 stores in Oregon, Washington and Northern California, Dutch Bros. confirmed this week that it is readying an Initial Public Offering (IPO) to take the company public. They have some company stores but are mostly franchised with drive-thrus. With sales per unit of $1.46 million, the brand’s forte is the…

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Starbucks

Starbucks reported positive same store sales of plus 9% in the company’s Q2 earnings report on Tuesday of this week. The favorable result was comprised of positive ticket of 22% along with negative transactions of 10%. Against a backdrop of increased 2021 guidance, the company’s tone was very self-congratulatory notwithstanding that it was still comparing…

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Miscellaneous

The National Federation of Independent Business (NFIB) reported this week that small business job openings set a new record in the month of March with 42% of the responding firms reporting that they had job openings last month. Further, NFIB reports that 56% of business owners added workers during the month while 25% of those…

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Starbucks

Last week, Starbucks announced that the company would be testing out cold pressed espresso in a limited number of stores throughout 2021. The cold pressed espresso was initially introduced at the Starbucks Reserve Roastery in Seattle in 2017.  In addition, the company also announced that it would be rolling out large print and braille menus later…

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Miscellaneous

Starbucks Shareholders yesterday rejected an eye-popping executive compensation proposal for the C-Suite that included a $1.86 million payout for CEO Kevin Johnson as a performance bonus for fiscal year 2020 along with $50M in “retention pay” if the CEO were to stick around with the company through fiscal year 2022! Although the rejected resolution was…

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Starbucks Earnings

Starbucks reported Q1 sales and earnings on Tuesday of this week with both global and US same store sales slightly weaker than expectations at minus 5%. Like other QSR operators, the US same store sales trend worsened somewhat through December, but the company sees January coming in at minus 2. While the company reported US transactions were…

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Miscellaneous

We noted some weeks back that congratulations are in order for a former Dunkin’ employee, but other news precluded us from getting to it sooner. Former northeast regional vice president for Dunkin’ Bill Bode has been promoted to the position of Chief Operations Officer at New Hampshire-based fitness franchise Planet Fitness. Elsewhere, we took note…

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Miscellaneous

McDonalds corporate sure knows how to “rob Peter to pay Paul”, as the old saying goes. The company hosted a webcast earlier this month to advise its franchisees (Peter) that a long-time company subsidy used to keep the price of a Happy Meal down would end on New Year’s Day 2021. Further, the company is…

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Starbucks

A couple of days ago, Starbucks was upbeat hosting its 2020 Investor Day, at which the company announced that it will be rolling out an oat milk platform in 2021. At the same time, CEO Kevin Johnson also reported that US comp sales are currently negative low mid-single digits and that they’ve softened further in…

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