Brian, it is so great to have you on the show and I want to start. I'm a student of yours and one thing I know is you never say something's ahead of expectations unless it is. So, I'm going to ask you how'd that happen.Yeah. Hey guys, good morning. Uh yeah, look, we had a uh a really great couple months as we worked hard on the foundational elements of the business, specifically the operating side of it.And you heard us talk about how we're really excited to be rolling out the Green Apron service model. And ...

Market Overview - The three major U.S. stock indices opened slightly higher, with the Dow Jones up 0.05%, Nasdaq up 0.19%, and S&P 500 up 0.11% [1] - The Dow Jones Industrial Average is currently at 44,654.91, with a gain of 21.92 points [2] - Nasdaq index stands at 21,137.01, increasing by 38.72 points [2] - S&P 500 index is at 6,376.30, up by 5.44 points [2] Company Performance - Starbucks shares rose over 5% after reporting third-quarter revenue for fiscal year 2025 that exceeded expectations [1] - New Oriental Education shares fell over 10%, with a significant year-on-year decrease in net profit for the fourth quarter of fiscal year 2025, reporting a net profit of $7.1 million, down 73.7% [12] Economic Indicators - The U.S. second-quarter GDP annualized preliminary growth rate is reported at 3%, compared to a decrease of 0.5% in the first quarter [8] - The ADP employment report for July indicates an increase of 104,000 jobs, a recovery from a previous decrease of 33,000 jobs [10] Currency and Trade - The U.S. Dollar Index (DXY) rose over 10 points, currently at 99.24, while the EUR/USD pair fell below 1.15, down 0.38% [7] - Trump announced that India will pay a 25% tariff starting August 1, along with penalties for purchasing goods from Russia [11]

Group 1 - U.S. stock indices opened slightly higher, with Dow Jones up 0.05%, Nasdaq up 0.19%, and S&P 500 up 0.11% [1] - New Oriental's net profit for Q4 FY2025 decreased by 73.7% year-on-year, leading to a drop of over 10% in its stock price [1] - Starbucks saw a stock increase of over 5% after reporting third-quarter revenue that exceeded expectations [1] Group 2 - Novo Nordisk's stock fell over 5% in pre-market trading after a significant drop of 21% the previous day, as new CEO Lars Fruergaard Jørgensen failed to reassure investors [2] - Apple has lost four AI researchers to Meta in a month, with the latest departure being multimodal AI researcher Bowen Zhang [2] Group 3 - LG Energy Solution secured a supply contract for lithium iron phosphate (LFP) batteries worth 5.9442 trillion KRW (approximately $4.3 billion), which represents 23.2% of its projected 2024 sales [3] - The customer behind the $4.3 billion contract is reportedly Tesla, although LG did not disclose the client's identity [3] Group 4 - Starbucks reported its first same-store sales growth in China in a year and a half, despite a global decline in same-store sales for six consecutive quarters [4]

Group 1 - Starbucks opened at $98.425 per share on July 30, with a 5.88% increase, and a total market capitalization of $111.88 billion [1] - For the fiscal year ending June 29, 2025, Starbucks reported total revenue of $27.615 billion, reflecting a year-over-year growth of 1.89% [1] - The net profit attributable to shareholders for the third quarter of fiscal year 2025 was $1.723 billion, a decrease of 39.57% year-over-year, with basic earnings per share of $1.52 [2] Group 2 - Starbucks is committed to ethically sourcing and roasting high-quality Arabica coffee, positioning itself as a leading specialty coffee roaster and retailer globally [2]

星巴克涨超5%，公司第三财季营收超预期。 ...

Company Strategy - Starbucks aims for a healthier menu to align with the MAHA era, moving beyond sugary drinks [1] - The company previously built a loyal customer base by selling sugary, candy-colored drinks [1]

Core Viewpoint - Despite a sixth consecutive quarter of declining same-store sales in the U.S., Starbucks shows signs of reform with better-than-expected results, leading the market to adopt a "believe first" approach [2] Financial Performance - Adjusted earnings per share were $0.50, below the market expectation of $0.65, while revenue reached $9.5 billion, a 5% year-over-year increase [2] - U.S. same-store sales fell 2% in Q2, in line with the previous quarter but better than the analyst forecast of a 2.5% decline; comparable transaction volume decreased by 4%, also better than the expected 4.5% drop [2] - China same-store sales continued to grow, with a 2% year-over-year increase, surpassing the expected 1.4% growth [6][7] Market Strategy and Reforms - To reverse the downturn, Starbucks has implemented several reforms in the U.S. market, including layoffs, requiring more employees to return to the office, increasing staffing in stores, and reshaping service models [4] - The new "Green Apron Service" plan is set to launch in mid-August, with pilot stores showing improvements in transaction volume, sales, and service efficiency [4] - Starbucks plans to invest approximately $150,000 per store for small-scale upgrades to create a "comfortable café atmosphere," moving away from the previous fast-casual experience [4] New Store Development - The construction cost for new stores has decreased by about 30%, with a new prototype store featuring 32 seats and a drive-thru set to launch in fiscal year 2026 [5] Product Innovation - Starbucks is shifting its product innovation approach from a top-down model to a co-creation model with store partners, addressing past criticisms of overly complex menus [8] - A new menu featuring protein cold foam drinks and coconut water tea beverages is set to launch in Q4, with a focus on quality and customer engagement [8]

数据显示，星巴克在中国内地市场的同店销售额同比增长2%，同店交易量和同店客单价均取得环比提 升。行业分析认为，相关增长得益于三方面，包括卓有成效的产品创新与营销活动，过去两年星巴克在 中国内地新开门店同店销售的高速增长，以及快速捕捉并满足快速增长的线上需求。在经营利润方面， 这个季度的利润率环比持续增长，继续保持两位数的健康水平。 截至第三季度末，中国内地星巴克门店数量达到7828家，新开70家门店，新进入17个县级市场。 （文章来源：新华财经） 新华财经上海7月30日电 星巴克30日发布2025财年第三季度（指2025年3月31日至6月30日）财报，总营 收达95亿美元，经调整后每股收益为0.5美元。其中国市场营业收入同比增长8%至7.9亿美元，实现连续 三个季度的同比增长。 ...

Core Insights - Despite a sixth consecutive quarter of declining same-store sales in the U.S., Starbucks shows signs of recovery as the decline is less severe than expected, leading the market to adopt a "wait and see" approach [1] Financial Performance - Adjusted earnings per share for Starbucks were $0.50, below the market expectation of $0.65, but revenue reached $9.5 billion, a 5% year-over-year increase, exceeding expectations [1] - Same-store sales in the U.S. fell by 2% in Q2, matching the previous quarter but better than the analyst forecast of a 2.5% decline [1] - Comparable transaction volume decreased by 4%, which is also better than the anticipated 4.5% drop [1] - In China, same-store sales continued to grow, marking a positive trend for the company [1] Market Strategies - To address the sales slump, Starbucks has implemented several reforms in the U.S., including layoffs, encouraging more employees to return to the office, and increasing staffing in stores to enhance service models [5] - The "Green Apron Service" initiative is set to launch fully in mid-August, with pilot stores showing improvements in transaction volume, sales, and service efficiency [5] - Starbucks plans to invest approximately $150,000 per existing store for minor upgrades to create a more comfortable café atmosphere, moving away from a fast-casual experience [5] - New store construction costs have been reduced by about 30%, with a new prototype store featuring 32 seats and a drive-thru expected to launch in FY2026 [5] Regional Performance - In the context of a 2% year-over-year decline in global same-store sales, the Chinese market stands out with a 2% increase, surpassing the expected 1.4% growth, driven by increased transaction volume despite a decrease in average ticket size [6] - This marks the second consecutive quarter of positive same-store sales growth in China, with management actively seeking local partners to expand long-term opportunities in the market [6] Product Innovation - Starbucks is shifting its product innovation approach from a top-down model to a collaborative "co-creation" process with store partners, addressing past criticisms of overly complex menus [7][8] - A new generation of menu items, including a protein cold foam drink and coconut water tea beverages, is set to launch in Q4, with a focus on healthier options [8] - The company emphasizes involving store partners from the beginning of the product development process to ensure practical operational alignment [9]

Starbucks's CEO Brian Nichols saying the coffee chain's turnaround is quote ahead of schedule despite the company reporting its sixth straight quarter of declining same store sales. Joining us right now with more on the quarter is Brian Harbor. He's US restaurants analyst at Morgan Stanley.Good morning to you. We're looking at the stock now about 98 bucks. Is this ahead of schedule in your mind.>> Well, look, I think there's no denying that the numbers are still tough here, but what what suggests that it's ...