Starbucks CEO on business in China and competition from local brands

China Market - The company sees an opportunity for tens of thousands more stores in China [1] - The brand has high regard in China, with tremendous opportunity to grow new stores and organically within existing stores [1] - The company created the coffee category in China and now needs to figure out how to compete and continue to grow that category [3] - The company is finding the right partner for its China businesses [1] US Market - The company's big point of difference in the US is the cafe experience [3] - The company needs to continue to give great access for mobile order, drive-thru, and the in-cafe experience [3] - Customer service and connection between barista and customer are rewarded with more business and brand esteem [4] Financial Performance - Comps were up 2%, driven by 6 points of transaction growth in the most recent quarter [2]