NEW YORK (AP) — Starbucks said Thursday that it plans to open hundreds of new stores across the U.S. and add seating capacity at thousands of existing locations, doubling down on a strategy of emphasizing the company's cafes as community hubs even as consumer demand for drive-thru coffee grows. The company unveiled its plans during a presentation in New York for investors. After announcing in September that it would close hundreds of less profitable stores, Starbucks said it now expects to open up to 175 ...

Core Viewpoint - Starbucks Corp announced a reimagined loyalty program and reported mixed fiscal first-quarter earnings, leading to a temporary rise in stock price before it traded lower [1] Rewards Program - The new loyalty program will feature a three-tiered structure for 35.5 million active U.S. members, launching on March 10, with Green, Gold, and Reserve membership levels offering increasing benefits based on Stars earned [2] - The program includes accelerated Star-earning rates and a new 60-Star redemption tier for $2 off any purchase, with Gold and Reserve members enjoying Stars that never expire [3] Earnings Snapshot - For fiscal Q1 2026, Starbucks reported adjusted earnings of $0.56 per share on revenues of $9.92 billion, compared to Wall Street's expectations of $0.59 per share on $9.63 billion in revenue [4] - The company achieved 4% comparable store sales growth globally, with North America and China growing by 4% and 7% respectively, marking the first U.S. comparable transaction growth in eight quarters [4] Future Outlook - Starbucks anticipates global and U.S. comparable store sales growth of 3% or greater for fiscal 2026, with adjusted EPS projected between $2.15 and $2.40, slightly below consensus of $2.35 [5] - The company plans to open 600 to 650 new coffeehouses globally [5] Analyst Ratings - RBC Capital Markets analyst reiterated an Outperform rating with a $105 price target, supported by long-term financial targets focusing on store productivity and cost efficiency [6] - The stock has a Buy Rating with an average price target of $99.78, despite trading at a premium P/E multiple [6] Market Performance - Starbucks shares were down 0.54% at $94.64 at the time of publication [9]

Core Insights - Starbucks is focusing on a transformation plan called "Back to Starbucks," aiming for long-term sustainable growth through customer-centric strategies and innovative offerings [1][4] - The company is committed to enhancing customer service, menu innovation, and marketing to drive engagement and sales [1] Financial Framework - Starbucks expects Non-GAAP Earnings Per Share to be between $3.35 and $4.00 by fiscal 2028, with a consolidated operating margin of 13.5% to 15% [1] - The company plans to open over 2,000 net new stores globally, including approximately 400 in the U.S., contributing 2% to 3% of consolidated revenue from new stores [1] - Projected global and U.S. comparable store sales growth is expected to be 3% or greater, with consolidated net revenue growth of 5% or greater [1] Turnaround Progress - The "Back to Starbucks" strategy is showing early signs of success, with plans to add over 25,000 café seats in the U.S. by the end of fiscal 2026 [2] - The Green Apron Service model has improved service times and customer satisfaction, with same-store sales growth reported in the U.S. and major global markets [2] Loyalty Program Innovation - A reimagined Starbucks Rewards program will launch on March 10, featuring three tiers: Green, Gold, and Reserve, aimed at enhancing member engagement and value [1][4] - The program is expected to drive nearly 60% of U.S. company-operated revenue in fiscal 2025, with small increases in member engagement potentially unlocking significant revenue [1] Menu Innovation Strategy - Starbucks is implementing a disciplined menu innovation strategy to capture customer interest across all dayparts, including new globally inspired food items and beverages [2] - The company aims to create a new afternoon occasion for customers, enhancing its offerings beyond the morning rush [2] Operational Enhancements - Investments in technology and equipment, such as next-generation espresso machines and AI tools, are aimed at improving service efficiency and customer experience [2] - The average service time across café and drive-thru locations has improved to less than four minutes [2] Global Growth Opportunities - Starbucks plans to accelerate international growth, particularly in China, with a goal of doubling its international coffeehouse footprint and adding 15,000 to 20,000 new locations in the region [2] - The company is also exploring up to 5,000 new coffeehouse opportunities in the U.S., with potential for further growth as average unit volumes increase [2]

Core Insights - Starbucks is experiencing significant momentum in its US business, with a focus on marketing and brand visibility as it prepares for its investor day in New York City [1] Marketing and Brand Strategy - The company has integrated its marketing, menu, digital experience, merchandising, and consumer packaged goods (CPG) to present a unified global brand [2] - Starbucks has increased its marketing and advertising spending to enhance visibility and relevance, aiming to be more loved by consumers [4] - The brand is focusing on major events for marketing, such as the Winter Olympics and collaborations with influencers like Mr. Beast [5] Customer Engagement and Rewards Program - Starbucks has revamped its rewards program by introducing tiers (green, gold, and reserve) to better reward frequent customers, who visit up to 200 times a year [8] - New features include a "free mod Monday" for all members, allowing for monthly free modifications, enhancing customer customization options [9] Product Innovation - The company is launching new menu items, including a matcha menu and an ube coconut macchiato, with a focus on energy refreshers to capture afternoon sales [10][11] - Starbucks has reduced its SKU count by 25% to streamline operations while still innovating within existing product structures [19] Cultural Relevance and Trends - Starbucks aims to leverage cultural trends and engage younger consumers, particularly Gen Z, by responding to customer-created trends and introducing a secret menu [14] - The company is focusing on health and wellness trends, with plans to introduce new flavors and customizable options, such as a more personalized chai [26][27] Technology and AI Integration - Starbucks is enhancing its app with AI capabilities, allowing customers to verbally express their drink preferences and receive recommendations [16][17] - The company is committed to balancing innovation with operational efficiency, ensuring that new offerings do not complicate barista workflows [18][21]

Core Insights - Starbucks CEO Brian Niccol indicated that the company has made progress on certain targets, including reducing the beverage preparation time to four minutes, and described the business recovery as just the beginning [1] - Menu innovations, such as the high-protein cold foam, are helping to attract both loyal and infrequent customers, with plans for more new products in the future [1] - The company is focused on enhancing the store experience and staffing configurations, with management expecting that related investments will drive profit margin recovery in the medium to long term [1]

加利福尼亚州一家星巴 克门店内，顾客正在取外卖订单。 星巴克凭借咖啡在早间时段占据优势，如今该品牌希望通过另一种含咖啡因饮品，吸引消费者在当天晚 些时候再次到店。 未来几周，星巴克美国门店将推出全新午后菜单，包含多款全新小食，以及与核心咖啡品类不同的各类 饮品，涵盖茶饮、升级款能量饮料和抹茶饮品。 星巴克全球首席品牌官特雷西・利伯曼在接受美国有线电视新闻网采访时表示："早间的消费行为往往 极具规律性，而午后的消费则更具随意性。人们会根据当天的状态，或是天气情况，想要喝上一杯不一 样的饮品。" 她称，这为星巴克创造了新的商机。 近年来，星巴克的部分竞争优势正被荷兰兄弟、黑石咖啡等新兴咖啡品牌赶超。餐饮行业研究机构泰克 诺米克的消费者研究高级总监罗伯特・伯恩表示，午后向来是星巴克的经营淡季，这一时段存在较大的 增长潜力。 他在接受采访时说："对许多消费者而言，午后抽空去心仪的饮品店小坐片刻，是一次短暂的休憩，能 让大脑放松、情绪舒缓，我认为这一领域蕴藏着巨大的商机。" 丰富午后饮品及食品选择，是星巴克首席执行官布莱恩・尼科尔复兴计划中的核心举措。尽管初期推进 缓慢，但他主导的菜单调整及其他优化措施已初见成效：这家 ...

Core Insights - Starbucks Corporation reported consolidated net revenues of $9.9 billion for Q1 FY26, a 6% increase from $9.39 billion in the same period last year [1] - The company experienced a decline in operating income in North America, falling to $867 million from $1.2 billion in Q1 FY25 [1] - The operating margin in North America decreased to 11.9%, down from 16.7% a year earlier, attributed to labor investments and inflationary pressures [2] North America Performance - Quarterly net revenues in North America rose 3% year on year to $7.3 billion [1] - Comparable store sales in North America increased by 4% [4] - The decline in operating income was linked to increased labor costs and inflation, particularly from tariffs and high coffee prices [2] International Performance - The International segment saw net revenues rise 10% year on year to $2.1 billion [2] - Operating income in the international segment increased to $282.7 million in Q1 FY26, compared to $237.1 million in Q1 FY25 [2] - Comparable store sales internationally grew by 5% [4] Channel Development - The channel development segment generated net revenues of $522.7 million, a 20% year-on-year increase from $436.3 million in the same period of FY25 [3] Future Outlook - Starbucks expects global and US comparable store sales growth of 3% or greater for FY26, with consolidated net revenues increasing at a similar pace [4] - The company added 128 net new stores in Q1 FY26, bringing the total store count to 41,118, with 52% being company-operated and 48% licensed [5] Management Commentary - CEO Brian Niccol stated that the Q1 results indicate the success of the "Back to Starbucks" strategy, highlighting increased customer engagement and sales momentum [3]

Core Insights - Starbucks is experiencing a resurgence, achieving its first comparable transaction growth in the US in eight quarters, marking the beginning of a new strategic phase [1] - The company is focused on revitalizing its brand and culture, with leadership emphasizing the importance of a vibrant culture in the "Back to Starbucks" initiative [2] Strategic Plans - Starbucks is outlining its strategic plan through fiscal 2028, with expectations for clearer multi-year financial targets and details on cost savings [2][6] - The company aims to enhance customer experience and operational efficiency through various initiatives, including store remodels and menu innovations [7][9] Store Remodels - Approximately 200 coffeehouse redesigns have been completed, aimed at encouraging customers to stay longer, with plans to complete over 1,000 remodels by the end of the fiscal year [8] - Each remodel costs about $150,000 and is mostly completed overnight [8] Menu Innovations - Starbucks is refreshing its menu with new spring offerings, including espresso, matcha, and chai beverages, and is accelerating its pace of innovation [9] - The company plans to expand its wellness-focused menu, particularly with protein drinks and healthier snacks [10] Technology Enhancements - Starbucks is enhancing its AI-driven virtual assistant, Green Dot Assist, to support baristas with recipes and information [11] - A new point-of-sale system and an advanced espresso machine, the Mastrena 3, are set to be introduced, improving service speed [13] Staffing and Career Development - The company is establishing clearer staffing structures and pathways for career growth to reduce turnover [14] - A new coffee house coach role has been introduced to promote internal hiring and staff retention [15][16] Performance Metrics - Starbucks is streamlining its performance metrics from nearly 40 to a more focused set, allowing coffeehouse leaders greater control [17] - The company is implementing a "shot score" system to evaluate performance, with top-performing stores showing significantly higher sales [18] Customer Loyalty Program - Starbucks is updating its customer loyalty program with a tiered system and new rewards, including a $2 discount for redeeming 60 points [18] - The company plans to evolve staff recognition programs to reward employees at top-ranking coffeehouses [19]

Core Insights - Starbucks is reintroducing a tiered loyalty program in North America to encourage more frequent visits from coffee drinkers as part of its broader turnaround strategy [1] - The loyalty program, Starbucks Rewards, has been a significant contributor to the company's revenue, accounting for 60% of total revenue in fiscal 2025 [2] - The previous two-tiered system was eliminated in 2019 to engage new members, but the company now believes it did not adequately reward its most loyal customers [3] Company Strategy - The tiered loyalty program will be reintroduced on March 10, featuring three levels to better reward frequent customers [4] - The company aims to balance enticing rewards for members while maintaining profit margins [3] - Executives are sharing plans to drive future sales growth and profitability, emphasizing the importance of the loyalty program [1]

Starbucks 2024 Conference Call Summary Company Overview - **Company**: Starbucks Coffee Company - **Industry**: Coffee and Beverage Retail - **Global Presence**: Operates over 41,000 coffee houses in 90 markets, serving more than 20 billion customer occasions annually with over 85 million active Starbucks Rewards members [19][39] Core Points and Arguments Growth Strategy - **Back to Starbucks Plan**: A strategic initiative aimed at reconnecting with core values and enhancing customer experience, focusing on service quality and operational efficiency [26][27] - **Financial Projections**: Anticipates 3% global and U.S. comp growth over the next three years, with consolidated net revenues growing by 5% or more in fiscal 2028 [38][39] - **New Store Openings**: Plans to add over 2,000 net new coffee houses globally, including approximately 400 new U.S. company-operated locations annually by fiscal 2028 [39] Customer Experience - **Green Apron Service**: A significant investment in customer experience, improving staffing and service standards across all stores [27][28] - **Third Place Concept**: Emphasizes creating welcoming environments for customers, enhancing community connection and customer satisfaction [15][29] - **Digital Engagement**: The largest digital business in the coffee sector, driven by a robust app and rewards program, enhancing customer convenience and engagement [22] Product Innovation - **1971 Roast Launch**: Introduction of a new dark roast coffee blend, expected to be available in all stores by early 2024 [13][10] - **Menu Expansion**: Plans to introduce new beverage options, including a dedicated Matcha menu and Energy Refreshers, to cater to evolving customer preferences [49][50] - **Food Offerings**: Expansion of bakery items and afternoon snack options to create new customer occasions and drive sales [51][48] Operational Efficiency - **Technology Integration**: Implementation of AI-driven tools like Smart Queue and Green Assist to optimize operations and enhance customer service [28][69] - **New Equipment**: Introduction of the Mastrena III espresso machine, expected to improve efficiency and quality in beverage preparation [68][69] Community and Partner Engagement - **Partner Benefits**: Competitive pay and comprehensive benefits, including tuition assistance and family leave, contributing to low turnover rates and high partner satisfaction [63][64] - **Community Impact**: Commitment to positively impacting neighborhoods where Starbucks operates, reinforcing the brand's community-oriented approach [18] Additional Important Insights - **Brand Loyalty**: The Starbucks Rewards program has shown significant engagement, with members visiting more than four times a week on average, contributing to over $13 billion in revenue [54] - **Cultural Relevance**: The brand aims to stay relevant by engaging in cultural conversations and leveraging social media to connect with customers [44][45] - **Market Leadership**: Starbucks is recognized as the leading coffee brand, with a strong presence in both retail and digital spaces, setting it apart from competitors [59] This summary encapsulates the key points discussed during the Starbucks 2024 conference call, highlighting the company's strategic direction, operational improvements, and commitment to enhancing customer and partner experiences.